Price-fixing case launched against capacitor makers
Class action litigation has been launched with the Courts claiming $480-million in compensation for Canadian consumers regarding price-fixing of electronic capacitors by many of Canada’s largest electronics manufacturers.
Merchant Law Group LLP is filing national class action lawsuits today with the Ontario Superior Court of Justice and the British Columbia Supreme Court (with similar class actions having been filed last week with the Superior Court of Quebec and the Court of Queen’s Bench of Saskatchewan) on behalf of all Canadian consumers and businesses who have purchased products containing electronic capacitors manufactured by Samsung, Hitachi, Panasonic, Sanyo, TDK or various other electronics manufacturers.
The class actions allege that the defendants conspired to operate as a cartel to foreclose competition, and that since at least January 1, 2005, the defendants agreed to artificially augment the cost of products containing aluminum, tantalum, or film capacitor. Aluminum, tantalum, and film capacitors are utilized in everything from vehicles to everyday consumer electronics, including laptops, tablets and cellular smartphones.
“The class action lawsuits launched seek Canada-wide compensation for the considerable consumer market manipulation caused by the defendants alleged anti-competitive behavior,” says Tony Merchant, Q.C. “Canadian consumers are understandably unhappy to find out that they have been overcharged for everything from cell phones to laptops as a result of the defendants operating as a cartel to artificially set the cost of electronic capacitors.”
The class action lawsuits filed today are similar to litigation being pursued in this United States and being investigated by the US Department of Justice.
See for example:
As a result of the alleged anti-competitive practices of the defendants, it is estimated that Canadian consumers who purchased products containing electronic capacitors have been overcharged by $480-million or more, since 2005.
Anyone who wishes to obtain further information about the Canadian capacitors class action should visit http://www.capacitorclassaction.com