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
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
SOURCE: Siskinds LLP
For 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