Linear Resistor Class Action Settlement – Important Deadline
Class proceedings have been initiated in Canada, on behalf of Canadians who purchased linear resistors or products containing linear resistors between July 9, 2003 and September 14, 2015 (the “Settlement Class Members”). Among other allegations, the proceedings allege that the defendants participated in an unlawful conspiracy to fix, raise, maintain, or stabilize the price of linear resistors in Canada (the “Class Actions”).
A Settlement Agreement has been reached with the defendants Panasonic Corporation, Panasonic Corporation of North America and Panasonic Canada Inc. (collectively “Panasonic”).For Complete Information
The Panasonic defendants are the first to enter into a settlement in the Class Actions.
The Class Actions will continue against the other named defendants.
Panasonic has agreed to pay CAD $2,350,000 for the benefit of Settlement Class Members and to provide meaningful early co-operation to the plaintiffs in pursuing their claims against the non-settling defendants. In exchange, Panasonic will be provided with a full release of the claims against them in relation to the Class Actions. The settlement, which was negotiated over several months, is not an admission of liability, fault, or wrongdoing, but is a compromise of disputed claims.
SETTLEMENT APPROVAL HEARINGS
The settlement must be approved by the courts before it becomes effective. Hearings are to take place at:
• the Ontario Superior Court of Justice on February 2nd, 2021 at 3:00 pm by virtual hearing, at the particulars below,
• the Superior Court of Québec on February 11th at 9:30 am at 1, rue Notre-Dame Est, Montréal, Québec in Room 16.08, and by virtual hearing at the particulars below, and
• the Supreme Court of British Columbia, in writing, following the Ontario hearing.
WHAT DO I NEED TO DO BY THIS TIME?
If you do not oppose the proposed settlement agreement, you do not need to appear at the hearings or take any other action at this time.
If you wish to comment on or object to the settlement agreement, you must deliver a written submission to Foreman & Company, 4 Covent Market Place, London ON N6A 1E2 by January 29, 2021 at the latest. The lawyers will forward any submissions to the appropriate court. If you have any questions about the settlement agreement, you are encouraged to contact one of the law firms listed below, who will respond to your questions:
Foreman & Company and Siskinds LLP represents Settlement Class Members in Ontario and in all provinces other than British Columbia and Québec. Foreman & Company can be reached at:
Toll free at 1-855-814-4575 ext. 106, by fax at 1-226-884-5340, by e-mail at [email protected] or by mail at 4 Covent Market Place, London, Ontario N6A 1E2, Attention: Jonathan Foreman.
Camp Fiorante Matthews Mogerman LLP represents Settlement Class Members in British Columbia. Camp Fiorante Matthews Mogerman LLP can be reached at:
Toll free at 1-800-689-2322, by fax at 1-604-689-7554, by e-mail at [email protected] or by mail at Suite 400, 856 Homer Street, Vancouver, British Columbia V6B 2W5, Attention: Sharon Wong.
Belleau Lapointe s.e.n.c.r.l. represents Settlement Class Members in Québec. Belleau Lapointe s.e.n.c.r.l. can be reached at:
Toll free at 1-888-987-6701, by fax at 1-514-987-6886, by e-mail at [email protected] or by mail at 300, Place d’Youville, Bureau B-10, Montréal, Québec H2Y 2B6, Attention: Josée Cavalancia.
OPTING OUT OF THE PROCEEDINGS
Settlement Class Members have the right to exclude themselves from the Class Actions (“opt-out”).