If you directly purchased aluminum, tantalum, or film capacitors between January 1, 2002 through July 22, 2015 that were shipped or billed to the United States, you could be affected by a Class Action Settlement.
The Joseph Saveri Law Firm is sole Lead Counsel in a class action lawsuit filed in July 2014 in the U.S. District Court for the Northern District of California on behalf of direct purchasers of aluminum, tantalum, and film capacitors.
The lawsuit alleges that capacitor manufacturers, faced with declining demand, agreed to raise, fix, and stabilize capacitor prices. Capacitors are devices placed in electric circuits that temporarily store electrical charge, and nearly every electronic device manufactured today contains them. Trillions of capacitors of various size, capacitance, and materials are manufactured each year. Price-fixing in the multibillion-dollar market for aluminum, tantalum (a rare metal), and film capacitors may have started as far back as 2002 and continued to the filing of the complaint.
Two settlements have taken place to date. A third round of settlement is pending Court approval. On December 18, 2018, Direct Purchaser Plaintiffs submitted to the Court a Motion for Preliminary Approval of Class Actions Settlements with Defendants Nichicon and Rubycon. The settlements would create an all-cash fund of $108 million plus an additional $12 million in contingent payments based on Rubycon’s financial performance. If approved, total settlements in the case to date will exceed $200 million. To file a claim to receive a share of the third round of settlement funds, please read the Claim Form instructions and submit a Claim Form by April 15, 2019.
Further details regarding the case are available at the Firm’s Cases & Investigations website page.