Proposed Settlements Totaling CAD $8.925 million Reached in Electrolytic & Film Capacitor Class Actions

LONDON, ON, Feb. 21, 2025 /CNW/ - Proposed national settlements totaling CAD $8.925 million for the benefit of class members have been reached in class actions alleging price fixing and related conduct on behalf of Canadians who purchased aluminum and tantalum electrolytic capacitors and/or film capacitors and products containing aluminum and tantalum electrolytic capacitors and/or film capacitors.

Matsuo Electric Co., Ltd. ("Matsuo") has agreed to pay CAD $1,175,000 for the benefit of the Electrolytic Settlement Class Members and CAD $25,000 for the benefit of the Film Settlement Class Members.

Rubycon Corporation and Rubycon America Inc. ("Rubycon") have agreed to pay CAD $7,300,000 for the benefit of the Electrolytic Settlement Class Members and CAD $200,000 for the benefit of the Film Settlement Class Members.

Shizuki Electric Co., Inc. and American Shizuki Corporation ("Shizuki") have agreed to pay CAD $225,000 for the benefit of the Film Settlement Class Members.

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 electronics such as smartphones, gaming consoles, home appliances and televisions, among other electronic products.

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

In addition, Matsuo, Rubycon and Shizuki 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.

Because the class actions are still ongoing and other settlements may be reached, the settlement amounts will not yet be distributed to class members. A process for the payment of claims to class members will be sought in the future. That process will be subject to court approval and will follow a further notice to the class.

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)
CFM Lawyers LLP (BC)
Belleau Lapointe, s.e.n.c.r.l. (QC)  

SOURCE Foreman & Company, CFM Lawyers LLP and Belleau Lapointe, s.e.n.c.r.l.

Media contacts: English: Jonathan Foreman - [email protected], 519.914.1175 x 102; French: Marie-Ève Dumont, Option consommateurs - 514.777.6133