Proposed Settlement Reached in Canadian Electrolytic and Film Capacitor Class Actions
Foreman & Company is pleased to announce that a national settlement has been reached with Panasonic Corporation, Panasonic Corporation of North America and Panasonic Canada Inc. (collectively “Panasonic”) in Canadian class actions concerning alleged price fixing of electrolytic and film capacitors. The actions continue against the remaining non-settling defendants.
"Electrolytic capacitors" and "film capacitors" are two types of electronic components used in an electrical circuit in order to store a charge. Electrolytic and film capacitors are found in electronics like smartphones, gaming consoles, home appliances and televisions, among other products.
Panasonic has agreed to pay CAD $5,950,000 for the benefit of Electrolytic Settlement Class Members and CAD $1,350,000 for the benefit of Film Settlement Class Members. In addition, Panasonic has agreed to provide co-operation to the plaintiffs in pursuing their claims against the non-settling defendants in both class actions. The settlement is not an admission by Panasonic of liability, fault, or wrongdoing, but is a compromise of disputed claims. The settlement must be approved by the courts before it becomes effective.
“These class actions are an essential legal tool. They allow purchasers of electronic components and products containing them to overcome traditional economic and other barriers to access the legal system in order to bring forward complex price-fixing allegations. This settlement is very valuable to the class members we represent.”
For more detailed information and to review the long-form notice, please click here. Foreman & Company is working collaboratively with Camp Fiorante Matthews Mogerman LLP and Belleau Lapointe, s.e.n.c.r.l. on these matters.
About Foreman & Company
Foreman & Company is a boutique plaintiff-side class actions law firm representing individuals and businesses who have suffered loss or injury due to misconduct on a widespread scale. Our award-winning team of litigators has been recognized by Lexpert, Chambers Global and Best Lawyers for their expertise and calibre of knowledge in class actions.