Hausfeld LLP and Labaton Sucharow LLP Announce $2.5 Million Settlement with Component Hardware Group, Inc.
WASHINGTON, Sept. 17 /PRNewswire/ -- Hausfeld LLP and Labaton Sucharow LLP announced a $2.5 million settlement with Component Hardware Group, Inc. (CHG) in In re Food Service Equipment Hardware Antitrust Litigation, Case No. 1:10-cv-1849-WSD (N.D.Ga.). Hausfeld LLP and Labaton Sucharow LLP serve as the class counsel law firms leading the case.
In this antitrust class action, the plaintiffs allege that certain manufacturers and/or distributors of food service equipment products, including Kason Industries, Inc. and others, engaged in anticompetitive behavior from 2004 to 2009, including unlawfully allocating customers among themselves. CHG has settled the lawsuit without admitting any liability to avoid the costs and burdens associated with defending class action litigation.
To resolve plaintiffs' claims, CHG has agreed to pay $800,000 in cash in two installments and to provide a 2.75% rebate to participating class members over two years for certain products. The parties estimate that the total value of the rebate is $1.7 million, bringing the total value of the settlement to $2.5 million. The settlement awaits court approval as the plaintiffs continue to pursue antitrust claims against Kason Industries, Inc. and others.
Hausfeld LLP attorneys working on this case are Michael Hausfeld and Megan Jones; Labaton Sucharow LLP attorneys working on this case are Hollis Salzman and Ryan Kriger.
Hausfeld LLP, based in Washington, D.C., is a global law firm providing litigation services in the areas of consumer fraud, antitrust/competition law, human rights violations, product liability, civil rights, and environmental law. In addition to the Washington office, the firm has operations in New York City, Philadelphia, San Francisco, and London. For additional information about Hausfeld LLP and its services, please visit http://www.hausfeldllp.com.
Labaton Sucharow LLP, with offices in New York, New York and Wilmington, Delaware, is one of the country's premier law firms representing institutional investors in class action and complex securities litigation, as well as consumers and businesses in class actions seeking to recover damages for anticompetitive practices. The Firm has been a champion of investor and consumer rights for over 45 years, seeking recovery of current losses and necessary governance reforms to protect investors and consumers. Labaton Sucharow has been recognized for its excellence by the courts and its peers. More information about Labaton Sucharow is available at www.labaton.com.
SOURCE Hausfeld LLP
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