Source: Business Wire news
If You Bought an Electrolytic or Film Capacitor From Distributors Since 2002 You Could Get Money From Settlements Totaling Approximately $80.5 Million in Class Action Settlements Announced by Cotchett, Pitre & McCarthy, LLP.
SAN FRANCISCO Class action settlements totaling approximately $31 million announced by Cotchett, Pitre & McCarthy, LLP. You could get money from settlements now totaling approximately $80.5 million.
Defendants ELNA Co., Ltd., ELNA America, Inc., Matsuo Electric Co., Ltd., Nichicon Corporation, Nichicon (America) Corporation, and Panasonic Corporation, Panasonic Corporation of North America, SANYO Electric Co., Ltd., and SANYO Electronic Device (U.S.A.) Corporation (collectively “Settling Defendants”) have agreed to Settlements resolving claims that they allegedly fixed the prices of certain Capacitors. This may have caused individuals and businesses to pay more for Capacitors. Capacitors are electronic components that store electric charges between one or more pairs of conductors separated by an insulator.
Am I Included?
You may be included if, from January 1, 2002, through February 28, 2014, you purchased one or more Capacitors from a distributor (or from an entity other than a Defendant) that a Defendant or alleged co-conspirator manufactured. “Indirect,” as that term is used below, means that you bought the product from someone other than the manufacturer, for example, from a distributor. A more detailed notice, including the exact Class definitions and exceptions to Class membership, is available at www.capacitorsindirectcase.com.
What do the Settlements provide?
The newly reached Settlements provide for the combined payment of $30,950,000 in cash to the Classes. The Settling Defendants have also agreed to cooperate in the pursuit of claims against the other non-Settling Defendants.
How can I get a payment?
In order to be eligible to receive a payment from the Settlements you must submit a valid Claim Form no later than March 23, 2020. You may submit a Claim Form either online or by mail. Both options are available at the website www.capacitorsindirectcase.com.
When will I get a payment?
Payments from the Settlements will not be distributed until the Court grants final approval of the Settlements, any objections or appeals are resolved, and all claims have been processed and verified. Updates will be provided on the Settlements’ website at www.capacitorsindirectcase.com.
What are my rights?
If you do nothing, you will be bound by the Court’s decisions concerning these Settlements. If you want to keep your right to sue one or more of the Settling Defendants regarding Capacitor purchases, you must exclude yourself in writing from the Classes by December 23, 2019. If you stay in the Classes, you may object in writing to the Settlements by December 23, 2019. The Settlement Agreements, along with details on how to exclude yourself or object, are available at www.capacitorsindirectcase.com. The U.S. District Court for the Northern District of California will hold a hearing on January 23, 2020, at 10:00 a.m., at 450 Golden Gate Avenue, 19th Floor, Courtroom 11, San Francisco, CA 94102 to consider whether to finally approve the Settlements. Class Counsel may also request attorneys’ fees of up to 30% of the Settlement Funds ($10,377,000), plus reimbursement of costs and expenses, for investigating the facts, litigating the case, negotiating the Settlements, providing notice to the Classes, and/or claims administration. The total amount of these costs shall be no more than $905,071.23. You or your own lawyer may appear and speak at the hearing at your own expense, but you don’t have to. The hearing may be moved to a different date or time without additional notice, so it is a good idea to check the above-noted website for additional information. Please do not contact the Court about this case.
If the case against the other Defendants is not dismissed or settled, Class Counsel will have to prove their claims against the other Defendants at trial. Dates for the trial have not yet been set. The Court has appointed the law firm of Cotchett, Pitre & McCarthy, LLP to represent Indirect Purchaser Class members.
For More Information: 1-866-217-4245/www.capacitorsindirectcase.com