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Kamaya Linear Resistor Price Fixing Class Action Lawsuit Overview:
- Who: Kamaya Electric Co., Ltd. and Kamaya, Inc.
- What: In a class action settlement, Kamaya has agreed to pay CAD $770,000 to settle claims it engaged in price fixing in the sale of its linear resistors.
- Where: Canada
Kamaya has agreed to pay CAD $770,000 to settle claims that it took part in a price fixing scheme in which linear resistors were sold at an inflated price.
A proposed national settlement was reached this week with Kamaya Electric Co., Ltd. and Kamaya, Inc. regarding the class action claims, Newswire reports.
Linear resistors are electrical components that, when placed in a circuit, regulate the flow of an electrical current.
These components are commonly used in electronic devices including televisions, cell phones, and computers. In some devices, there may be hundreds of resistors used to complete the electric circuit.
The class action lawsuit claimed that linear resistor manufacturers conspired together to raise, fix, maintain, or stabilize the price of linear resistors in a way that increased their profits, in violation of the law.
Kamaya denies wrongdoing. The settlement is yet to be approved by the courts in Ontario and Québec.
This is the second class action settlement to be reached over the issue in Canada, Newswire reports. An earlier settlement with Panasonic valued at CAD $2.35 million was previously approved by the courts.
“We are pleased to have reached a second settlement in this case,” lawyer for the plaintiffs Jonathan Foreman said. “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.”
Second Class Action Settlement Reached Over Manufacture Price Fixing on Linear Resistors
This proposed settlement follows a similar settlement in the United States. In 2019, several linear resistors manufacturers—including Kamaya—agreed to pay a total of $50 million to resolve price-fixing class action lawsuit claims.
In that case, the companies named as defendants in the price fixing allegations were Kamaya Inc., Kamaya Electric Co. Ltd., Walsin Technology Corporation, Walsin Technology Corporation USA, Hokuriku Electric Industry Co. Ltd., HDK America Inc., Panasonic Corporation, Panasonic Corporation of North America, ROHM Co. Ltd., ROHM Semiconductor U.S.A. LLC, KOA Corporation, and KOA Speer Electronics Inc.
What do you think of the settlement in this case? Let us know in the comments!
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