SEATTLE, May 16, 2019 /PRNewswire/ -- Class action lawsuit Settlements may affect you if you purchased linear resistors from Kamaya, Inc., Kamaya Electric Co., Ltd., Walsin Technology Corporation, Walsin Technology Corporation USA, Hokuriku Electric Industry Co., Ltd., HDK America, Inc., Panasonic Corporation, Panasonic Corporation of North America, ROHM Co., Ltd., ROHM Semiconductor U.S.A., LLC, KOA Corporation, or KOA Speer Electronics, Inc. (collectively the "Defendants").
The lawsuit pending in the United States District Court for the Northern District of California is called In re Resistors Antitrust Litigation, Case No. 3:15-cv-03820. The Court will hold a Fairness Hearing to consider whether to approve the Settlements so that benefits may be paid. Class Members don't need to do anything to stay in the Settlements or may request exclusion or object to the Settlements.
Are You Affected? You are a "Class Member" if you were a United States purchaser of linear resistors directly from any of the Defendants, their subsidiaries, agents, affiliates, or joint ventures from July 9, 2003 through August 1, 2014 ("Settlement Class Period"). The Settlements do not include non-linear resistors.
What is this Lawsuit About? The lawsuit alleges that the Defendants participated in an unlawful conspiracy to raise, fix, maintain, or stabilize the price of linear resistors at artificially high levels. The Defendants deny the Plaintiffs' allegations. The Court has not decided who is right. The Settlements avoid the costs and risks of a lengthy trial and appeals process.
What Can You Get from the Settlements? The combined Settlement Fund from the Settlements is $50,250,000. In accordance with the Settlement Agreements, the combined Settlement Fund, minus Court-approved attorneys' fees and expenses, any Class Representative Service Award approved by the Court, and Settlement Administration and notice expenses (the "Net Settlement Fund"), will be distributed to Class Members who do not request exclusion as a pro rata share based on the dollar value of approved purchases of linear resistors per Class Member during the Settlement Class Period.
How Can I Get a Payment? If you received a Settlement Notice Packet with a pre-printed Claim Form and agree with the purchase information included, you do not need to do anything to receive a payment from the Settlements. If you disagree with the pre-printed purchase information provided on the Claim Form, or if you did not receive Notice regarding the Settlements but believe you are a Class Member, you must complete a Claim Form and provide supporting documentation (e.g. invoices, purchase records, etc.). The Claim Form is available on the Settlement Website at www.resistorssettlements.com, or you may request one by phone at 1-888-337-8772. You must submit your Claim Form and supporting documentation to the Settlement Administrator online or postmarked by mail no later than August 14, 2019.
What Are Your Options? If you don't want a payment and you don't want to be legally bound by the Settlements, you must exclude yourself by July 15, 2019 or you won't be able to sue, or continue to sue, the Defendants about the legal claims in the lawsuit. If you exclude yourself, you can't get a payment from the Settlements. If you stay in the Class, you may object to the settlement by July 15, 2019. The detailed Notice of Settlements describes how to exclude yourself or object. The Court will hold a Fairness Hearing on September 5, 2019 at 10:00 a.m. to consider whether to approve the Settlements, attorneys' fees in an amount of 20% of the combined Settlement Fund, plus expenses, and the Class Representative Service Award. You may ask the Court to appear at the Fairness Hearing, but you don't have to do so.
How Can You Get More Information? This Notice summarizes the proposed Settlements. For the precise terms and conditions of the Settlements, please see the Settlement Agreements available at www.resistorssettlements.com, by contacting Class Counsel by accessing the Court docket in this case through the Court's Public Access to Court Electronic Records (PACER) system at https://ecf.cand.uscourts.gov, or by visiting the office of the Clerk of the Court for the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, CA 94102, between 9:00 a.m. and 4:00 p.m., Monday through Friday, excluding Court holidays. You may also contact the Settlement Administrator toll-free at 1-888-337-8772, go to www.resistorssettlements.com, or write to Linear Resistors Settlements, c/o JND Legal Administration, P.O. Box 91309, Seattle, WA 98111. Please do not telephone the Court or the Court Clerk's Office to inquire about these Settlements or the claim process.
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SOURCE JND Legal Administration