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 plastic film capacitors may have started as far back as 2002 and continues to the present day.
The U.S. Department of Justice, along with regulators in China, Japan, South Korea, Taiwan, Brazil, and Europe, is actively investigating the price-fixing allegations. One Japanese corporation requested that the DOJ grant it amnesty from prosecution in exchange for reporting about the capacitor manufacturers’ illegal collusive conduct. To date, three capacitors manufacturers have been sentenced for violating the federal antitrust laws following their plea agreements with the DOJ. Three more have publicly stated that they will plead guilty to the same charges.
Through this lawsuit, the firm seeks relief for direct purchasers of capacitors including, among other things, recovery of treble damages for the unlawful overcharge on capacitors resulting from the defendants’ collusion.
The firm continues to investigate these price-fixing allegations, as well as any injuries U.S. businesses or consumers may have suffered as a result of the capacitor manufacturers’ illegal agreements.
You may contact the firm if you or your company purchased capacitors, either from capacitor manufacturers or any of their wholesale distributors, and have information or documents related to any agreements to fix prices on capacitors; or you are involved in or are knowledgeable about the capacitors industry and believe you have information that can assist the firm in its ongoing investigation.