In a resolution of its portion of the multidistrict antitrust lawsuit relating to a myriad of battery manufacturers accused of fixing lithium ion battery prices, Sony will pay indirect buyers of lithium ion batteries $19.5 million.
Sony Corporation said it will pay $19.5 million to consumers who indirectly purchased the batteries from January of 2000 to May of 2011. The proposed settlement follows an earlier deal announced in February under which the company agreed to pay $19 million to direct retailer purchasers.
The lawsuit alleges that as a direct result of the defendant manufacturers’ alleged anticompetitive and unlawful conduct, consumers across America paid artificially inflated prices for Li-Ion rechargeable batteries.
Under terms of the newest settlement, Sony must cooperate in the case against the remaining defendants. If the settlement is approved, Sony will become the first defendant to settle the case, which was centralized in California in 2014. A hearing on the motion for preliminary approval of the settlement is scheduled for May 24.
The indirect purchaser plaintiffs are represented by Steven N. Williams of Cotchett Pitre & Mccarthy LLP, Lieff Cabraser’s Elizabeth J. Cabraser, and Steve W. Berman of Hagens Berman Sobol Shapiro LLP.