Proposed $2.5M Settlement Reached with ELNA and $0.8M Settlement Reached with Holy Stone in Electrolytic & Film Capacitor Class Actions

LONDON, ON, Jan. 10, 2022 /CNW/ - To settle class action lawsuits alleging that several companies participated in price-fixing and related conduct in respect of electrolytic and film capacitors, ELNA and Holy Stone (together, the "Settling Defendants") have separately agreed to pay CAD $2.475M and CAD $790,000 respectively for the benefit of Electrolytic Settlement Class Members and CAD $25,000 and CAD $10,000 respectively for the benefit of Film Settlement Class Members. The proposed settlements total a combined CAD $3.3M. In addition, the Settling Defendants have agreed to provide cooperation to the plaintiffs in pursuing their claims against the non-settling defendants. The settlements are not admissions of liability, fault, or wrongdoing, but are compromises of disputed claims. The settlements must be approved by the courts before they become effective.

An "electrolytic capacitor" and a "film capacitor" are two types of electronic components used in an electrical circuit to store a charge. They are found in smartphones, game consoles, home appliances and televisions, among other electronic products.

To be a member of these class actions, one must have purchased an electrolytic capacitor or a product containing an electrolytic capacitor between September 1, 1997 and December 31, 2014 or have purchased a film capacitor or a product containing a film capacitor between January 1, 2002 and December 31, 2014.

"Our team is pleased to have secured another settlement recovery for the classes we represent in this litigation. We are also pleased to have negotiated the right to further evidence and cooperation from the settling defendants to enhance the prosecution of the claims against the remaining defendants" said Jonathan Foreman, of Foreman & Company, one of the lawyers representing the plaintiffs in the class actions.

The class actions continue against the remaining defendants.

Because the class actions are still ongoing and other settlements may be reached, the ELNA and Holy Stone settlement amounts will not be distributed to class members at this time. A process for the payment of claims to class members, which is subject to court approval, will be put in place at a later date.

For more detailed information, and to view the Courts' orders, the settlement agreements, the court-approved notices and an explanation of the rights of settlement class members, please visit www.capacitorclassaction.ca. 

Class members are represented by:

Foreman & Company (Canada excluding BC and QC)
Camp Fiorante Matthews Mogerman ^LLP (BC) 
Belleau Lapointe, s.e.n.c.r.l. (QC)  

Media contacts:

English: Jonathan Foreman – [email protected], 519-914-1175 x 102

French: Marie-Ève Dumont, Option consommateurs – 514-777-6133

SOURCE Foreman & Company