Proposed Settlement Reached in Canadian Linear Resistors Class Actions
Foreman & Company is pleased to announce that a national settlement has been reached with Kamaya Electric Co., Ltd. and Kamaya Inc. (collectively “Kamaya”) in Canadian class actions concerning alleged price fixing of linear resistors. This is the second settlement to be reached in the actions.
A “linear resistor” is an electronic component used to regulate the current in an electrical circuit. Linear resistors are found in electronics like computers, smartphones, gaming consoles, home appliances and televisions, among other products.
Kamaya has agreed to pay CAD $770,000 for the benefit of Settlement Class Members and to provide early co-operation, evidence and other assistance to the plaintiffs in pursuing their claims against the non-settling defendants. The settlement must be approved by the courts before it becomes effective.
“We are pleased to have reached a second settlement in this case. In addition to the monetary recovery, this settlement will provide further evidence and cooperation to assist the plaintiffs in the conduct of the case against the remaining defendants.”
The Ontario action has also been discontinued as against the Murata, Yageo, TOCOS, Midori, Vishay and Alps defendants. This action will continue against the other named defendants.
For more detailed information and to review the long-form notice, please visit the Class Action page. Foreman & Company is working collaboratively with Siskinds LLP, Camp Fiorante Matthews Mogerman LLP and Belleau Lapointe, s.e.n.c.r.l. on this matter.