Final Settlements Reached with All Defendants
Indirect purchasers have reached $113 million in settlements with all of the defendants in the Lithium Ion Batteries Antitrust Litigation. The court has given final approval to all of the settlements. The claims deadline for the $113 million in settlements has now passed.
In 2012, Hagens Berman filed a class action lawsuit alleging that several of the largest lithium-ion battery producers, including LG Chem, Ltd. (KSE: 051910.KS), Panasonic Corporation (NYSE: PC), Sanyo Corporation (TAI: 1614.TW), Sony Corp. (NYSE: SNE), Samsung SDI (KSE: 006405.KS), Hitachi, Ltd. (OTC: HTHIY), and Maxell Corporation of America conspired to fix and artificially increase the price of batteries, inflating the cost of notebooks and other portable computers paid by consumers.
Lithium-ion batteries are commonly used in consumer electronic products, including notebook computers, camcorders, and power tools. The lawsuit alleges that due to the price-fixing scheme, consumers overpaid for all of these devices. Hagens Berman was named as co-lead counsel, representing the indirect purchaser class.
After seven years of litigation, indirect purchasers reached settlements with all of the defendants. Although the district court granted final approval to all of the settlements, a small number of class members objected to the terms of the settlements and filed appeals to the Ninth Circuit Court of Appeals. In one appeal, the Ninth Circuit recently vacated the district court’s order approving a group of settlements and remanded them back to the district court for further consideration. As a result, the district court must now reconsider whether to finally approve the Settlements along with a revised Distribution Plan.
We are unable to distribute the settlement funds until these appeals are resolved. While our goal is to resolve these as soon as possible, we are unable to provide an exact date at this time. We appreciate your patience and will keep this webpage updated with any future developments.
Concerned consumers can contact Hagens Berman, who filed the lawsuit, by emailing [email protected].
CASE TIMELINE
Indirect purchasers have reached $113 million in settlements with all of the defendants in the Lithium Ion Batteries Antitrust Litigation. The court has given final approval to all of the settlements. The claims deadline for the $113 million in settlements has now passed.
Indirect purchasers have reached settlements with the LG, Hitachi-Maxell and NEC defendants, for a total of $44.95 million. The claims period for these settlements will end on Nov. 29, 2017. Go to https://www.reversethecharge.com/ to make a claim now.
Indirect purchasers have reached a settlement with the Sony defendants and filed their motion for preliminary approval in April 2016.
In January 2016, IPPs moved for certification of a class of all persons and entities who indirectly purchased a cylindrical lithium-ion battery manufactured by the defendants. This includes: (i) a portable computer, (ii) a power tool, (iii) a camcorder, or (iv) a replacement battery for any of these products. The class period extends from January 1, 2000 through May 31, 2011.
Hagens Berman files amended complaint, which includes plaintiffs from Hawaii. Download amended complaint.
Judge Gonzalez Rogers denied, in part, defendants’ Motions to Dismiss the Second Consolidated Amended Complaints of Direct and Indirect Purchaser Plaintiffs, permitting IPPs to pursue their case against named-defendants.
