Price-fixing settlement announced

Foreman & Company announces national settlement with Panasonic in Canadian class actions concerning alleged price fixing

Photo: Jonathan Foreman

FOREMAN & COMPANY, A London-based boutique law firm dedicated to class actions, has announced that a proposed national settlement has been reached with Panasonic Corporation, Panasonic Corporation of North America and Panasonic Canada Inc. (collectively ‘Panasonic’) in Canadian class actions concerning alleged price fixing of linear resistors. This is the first settlement to be reached in the actions. The actions continue against other defendants.

A ‘linear resistor’ is an electronic component used to regulate the current in an electrical circuit. Linear resistors are found in electronics like computers, smartphones, gaming consoles, home appliances and televisions, among other products.

Panasonic has agreed to pay CAD $2,350,000 for the benefit of settlement class members and to provide early co-operation, evidence and other assistance to the plaintiffs in pursuing their claims against the non-settling defendants. The settlement must be approved by the courts before it becomes effective.

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The class members are represented by Foreman & Company and Siskinds LLP, except in B.C. and Quebec, where they are represented by Camp Fiorante Matthews Mogerman LLP and Belleau Lapointe, s.e.n.c.r.l. respectively.

“Class actions provide access to justice for claimants affected by widespread wrongs like price fixing. This proposed settlement represents an important initial step in this litigation for Canadian purchasers of linear resistors,” said Jonathan Foreman, on behalf of the lawyers representing the plaintiffs in the class actions.

For more detailed information and to review the long-form notice, click here.