Proposed LCD price-fixing class action settlements and distribution protocol
LONDON/VANCOUVER/QUÉBEC CITY, Dec. 10, 2013 /CNW/ - Additional settlements have been reached in the Canadian LCD price-fixing class actions with Japan Display Inc. (successor to Hitachi Displays, Ltd.) ("JDI") and Innolux Corporation (successor to Chi Mei Optoelectronics Corporation) ("Innolux").
The LCD price-fixing class actions allege price-fixing in the market for LCD (liquid crystal display) panels and LCD televisions, computer monitors and laptop computers containing LCD panels ("LCD products").
JDI has agreed to pay $3,150,000 and Innolux has agreed to pay $10,000,000 for the benefit of persons in Canada who bought LCD Panels or LCD Products between January 1, 1998 and December 11, 2006. The settlements represent a resolution of disputed claims. JDI and Innolux do not admit any wrongdoing or liability. The litigation is continuing against the non-settling defendants.
The class actions have been certified against JDI and Innolux for settlement purposes. Motions to approve the proposed settlements will be heard by the Ontario Court in the City of London on January 10, 2014 at 9:00 a.m., the British Columbia Court in the City of Vancouver on January 24, 2014 at 9:00 a.m. and the Québec Court in the City of Québec on February 20, 2014 at 9:30 a.m. At these hearings, the Ontario, British Columbia and Québec Courts will determine whether the settlements are fair, reasonable, and in the best interests of settlement class members.
Previous settlements have been reached with Chunghwa Picture Tubes, Ltd.; Epson Imaging Devices Corporation (formerly known as Sanyo Epson Imaging Devices Corporation); and Samsung Electronics Co. Ltd. and Samsung Electronics Canada Inc.
The settlements achieved to date in this litigation total $37,623,000. At the approval hearing, the courts will be asked to approve a protocol for distribution of the settlement funds for all settlements, plus accrued interest, less court-approved legal fees, disbursements, administration expenses, and applicable taxes.
The law firms of Siskinds LLP, Camp Fiorante Matthews Mogerman and Siskinds Desmeules s.e.n.c.r.l. are class counsel. Their full contact information is available online at www.classaction.ca.
Class Counsel legal fees and disbursements must be approved by the courts. Class Counsel will collectively be requesting that legal fees of up to 25% of the settlement funds, plus disbursements and applicable taxes be approved by the Courts and paid out of the JDI and Innolux settlement funds.
SOURCE Siskinds LLPFor further information:
680 Waterloo Steet
London, ON N6A 3V8
Tel: 1-800-461-6166 ext. 2446
For Persons in British Columbia:
Camp Fiorante Matthews Mogerman
#400 - 856 Homer Street
Vancouver, BC V6B 2W5
For Persons in Québec:
Siskinds Desmeules s.e.n.c.r.l.
43, Rue Baude, Bureau 320
Québec City, QC G1R 4A2