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ELNA, Holy Stone Electrolytic and Film Capacitor Class Action Settlement:
- Who: Companies ELNA and Holy Stone have agreed to pay CAD $3.3M between them to settle claims they participated in a price-fixing scheme for electrolytic and film capacitors.
- Why: The companies were accused of being a part of an international conspiracy to fix prices for electrolytic capacitors, electronic components that are found in phones and other electronic devices
- Where: The settlement is effective in Canada.
Two companies have agreed to pay CAD $3.3 million between them in Canada to settle claims they participated in a price-fixing scheme for certain electronics components that increased the price of a myriad of electronic goods, including smartphones and gaming consoles.
Law firm Foreman & Company announced the class action settlement reached with ELNA and Holy Stone in a press release issued Jan. 12.
The settlement relates to allegations that the companies participated in a price-fixing scheme for electrolytic and film capacitors.
An electrolytic capacitor and a film capacitor are two types of electronic components used in an electrical circuit to store a charge. They are found in smartphones, game consoles, home appliances and televisions, among other electronic products, the release says.
Settlement Period Goes Back to 1997
According to the firm, the companies have separately agreed to pay CAD $2.475 million and CAD $790,000 respectively for the benefit of those who bought products with electrolytic components and CAD $25,000 and CAD $10,000 respectively for the benefit of those who bought products with the film capacitors. The proposed settlements total a combined CAD $3.3 million.
In addition, the companies have agreed to provide cooperation to the plaintiffs in pursuing their claims against other companies that are accused of taking part in the scheme, which has also been prosecuted in the United States.
ELNA and Holy Stone do not admit fault by making the settlements but are settling to “compromise,” the lawyers said.
The class includes anyone in Canada who purchased an electrolytic capacitor or a product containing an electrolytic capacitor between Sept. 1, 1997, and Dec. 31, 2014, or who had purchased a film capacitor or a product containing a film capacitor between Jan. 1, 2002, and Dec. 31, 2014.
The class members are represented by Foreman & Company, Camp Fiorante Matthews Mogerman LLP and Belleau Lapointe.
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11 thoughts onMakers of Electronics Found in Phones, Consoles to Pay $3.3M Price-Fixing Settlement
Je désire faire partie de cette future Action Collective. Merci ☺️