Plaintiff indirect purchasers of lithium ion batteries have informed the federal Northern District Court in California that several defendants in the multidistrict antitrust lawsuit over alleged price-fixing have agreed to a settlement valued at over $43 million.
NEC, Samsung, and Toshiba will pay the plaintiffs the settlement amount as compensation for purchasers who claim they were forced to pay inflated prices for batteries as a result of a pricing conspiracy between numerous battery manufacturers. Panasonic and Sanyo, also parties to the lawsuit, have not agreed to any settlement and intend to proceed with litigation of the case. Earlier settlements include those with Sony, LG, and Hitachi.
Lieff Cabraser serves as Interim Co-Lead Indirect Purchaser Counsel representing consumers in the class action against LG, GS Yuasa, NEC, Sony, Sanyo, Panasonic, Hitachi, LG Chem, Samsung, Toshiba, and Sanyo for allegedly conspiring to fix and raise the prices of lithium-ion rechargeable batteries in violation of U.S. antitrust law from 2002 to 2011.
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