LONDON, ON, Dec. 4, 2020 /CNW/ - A proposed national settlement has been reached with Panasonic Corporation, Panasonic Corporation of North America, Panasonic Canada Inc. and Sanyo Electric Co., Ltd. (collectively "Panasonic"), in the Canadian Electrolytic and Film Capacitors class actions. These actions allege price fixing and related conduct in respect of the sale of electrolytic and film capacitors. The class actions continue against 30 defendants in the electrolytic class actions and 33 defendants in the film class actions. In Québec, the electrolytic class action has been authorized by the Superior Court and can proceed towards a trial against the non-settling defendants.
"Electrolytic capacitors" and "film capacitors" are two types of electronic components used in an electrical circuit in order to store a charge. Electrolytic and film capacitors are found in electronics like smartphones, gaming consoles, home appliances and televisions, among other products.
Panasonic has agreed to pay CAD $5,950,000 for the benefit of Electrolytic Settlement Class Members and CAD $1,350,000 for the benefit of Film Settlement Class Members. In addition, Panasonic has agreed to provide co-operation to the plaintiffs in pursuing their claims against the non-settling defendants in both class actions. The settlement, which was negotiated over several months, is not an admission by Panasonic of liability, fault, or wrongdoing, but is a compromise of disputed claims. The settlement must be approved by the courts before it becomes effective.
"These class actions are an essential legal tool. They allow purchasers of electronic components and products containing them to overcome traditional economic and other barriers to access the legal system in order to bring forward complex price fixing allegations. This settlement is very valuable to the class members we represent" said Jonathan Foreman, of Foreman & Company, one of the lawyers representing the plaintiffs in the class actions.
For more detailed information and to review the long-form notice, please visit www.capacitorclassaction.ca.
Class members are represented by:
Foreman & Company (Canada except BC and QC)
Camp Fiorante Matthews Mogerman LLP (BC)
Belleau Lapointe, s.e.n.c.r.l. (QC)
Media contacts:
English: Jonathan Foreman - [email protected]
French: Marie-Ève Dumont - [email protected]
SOURCE Foreman & Company
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