Canadian Electronics Class Action Settlement 2024: Claim Your Share Before It’s Gone

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Canadian consumers have faced a wave of class-action lawsuits. They involve price-fixing and anti-competitive acts by multinational companies. A key case involves linear resistors. They are vital in many electronic devices. If you own a smartphone, computer, or any device, you might qualify for proposed class-action settlements in Canada. This includes gaming consoles, TVs, and home appliances.

This article will fully overview class-action settlements. for alleged price-fixing in the linear resistor industry. We will explain the background, the companies, and the settlements. We will cover the eligibility criteria and the settlement approval process. This guide is for you. It will explain everything you need to know. It’s for consumers of everyday electronics and those curious about class-action settlements.

What Are Linear Resistors and Why Are They Important?

Linear resistors are vital components. They control electrical current in circuits. They are a type of passive electronic component that resists the flow of electric current, producing heat as a result. Resistors are vital in electronic circuits. They control voltage and current. This ensures devices work properly. Without resistors, many devices could not operate safely or efficiently.

Linear resistors are used in a vast array of electronic products, including:

  • Smartphones: Used in various internal components to control electrical current.

  • Computers and Laptops: Integral in power supply and motherboard circuits.

  • Gaming Consoles: Essential for regulating power distribution within consoles.

  • Televisions: Used in the circuitry that controls display functionality.

  • Home Appliances: Found in appliances like refrigerators, microwaves, washing machines, and more.

Linear resistors are used in many consumer products. Their price affects the cost of making electronic devices. If found guilty of price-fixing, consumers may be owed compensation.

Allegations of Price-Fixing in the Linear Resistor Industry

The core issue behind the class-action lawsuits is the alleged price-fixing of linear resistors. Price-fixing occurs when companies collude to set a product’s price at a specific level. They do this instead of letting competition set the market price. This anti-competitive practice harms consumers by preventing market forces from ensuring fair pricing. Several companies that made linear resistors were accused of price-fixing. This led to inflated prices for products that contained these components.

The lawsuits allege that, from July 19, 2003, to September 14, 2015, several companies fixed prices for linear resistors. These activities reportedly affected many consumer electronics. This includes smartphones, computers, gaming consoles, home appliances, and televisions. Millions of Canadians buy and use these items daily.

The Companies Involved in the Price-Fixing Allegations

As a result of the allegations, several companies have been named in the class-action lawsuits. These include:

  1. KOA Corporation and KOA Speer Electronics, Inc. are major manufacturers of resistors and other electronic components. KOA and its subsidiaries were accused of conspiring with other companies to fix the prices of linear resistors. They have agreed to pay $3.3 million in settlement funds to resolve the allegations.

  2. Susumu Co., Ltd. and Susumu International (USA) Inc.: Susumu is another significant player in the resistor industry. Like KOA, Susumu was accused of anti-competitive conduct. It led to inflated prices for linear resistors. Susumu has agreed to pay $90,000 as part of the settlement.

The companies have agreed to settle. But, they deny any wrongdoing. They maintain they did not engage in anti-competitive conduct or price-fixing. The companies are settling to avoid long lawsuits. They will pay compensation but won’t admit guilt.

Who Is Eligible to Participate in the Settlement?

If you bought linear resistors or products with them between July 19, 2003,

and September 14, 2015, you may be eligible for a class-action settlement. This is vital for Canadian consumers who bought devices with these parts.

The products most likely to be affected include:

  • Smartphones and tablets

  • Desktop computers and laptops

  • Gaming consoles

  • Televisions

  • Home appliances such as refrigerators, washing machines, and microwaves

Settlement Approval Process

Before any payouts, courts in Ontario, British Columbia, and Québec must approve the proposed settlements. These hearings are scheduled as follows:

  • OntarioFebruary 26, 2025

  • British Columbia (KOA only): March 11, 2025

  • QuébecApril 8, 2025

The courts will assess if the settlements are fair, reasonable, and in the best interests of the Settlement Class. If the courts approve the settlements, the process of distributing compensation will begin.

How Settlement Funds Will Be Handled

The settlement funds, along with any interest accrued, will be held in an interest-bearing trust account. The funds will be distributed to eligible claimants after the following deductions:

  • Court-approved legal fees: Foreman & Company will get part of the settlement to cover their legal fees and expenses. They are the law firm handling the case.

  • Taxes: Any applicable taxes on the settlement funds will be deducted as required by Canadian tax law.

Once these deductions are made, the remaining funds will be distributed to eligible members of the settlement class. The amount each eligible claimant will receive depends on two factors. They are the total funds available and the number of approved claims.

How to Apply for the Settlement

If you believe you are eligible to participate in the settlement, you can apply through the official claims process. The application procedure will be made available once the settlements are approved by the courts.

Here is an overview of the process:

  1. Access the Official Claims Portal: You will be able to submit your claim through a designated online portal.

  2. Submit Required Documentation: You must prove your eligibility. So, provide a receipt for the products that contain linear resistors. If needed, you may also have to submit medical certificates (for disabilities) or other documents.

  3. Check for Updates: It’s important to monitor the claims process closely and ensure that you meet any deadlines for filing your claim.

How to Stay Updated

To avoid missing updates on the settlement, please sign up for notifications. The law firm, Foreman & Company, is handling the case. They will provide instructions and updates after the court approvals. This will include:

  • Information on who qualifies to submit a claim

  • How the claims will be assessed and valued

  • Deadlines for filing claims

  • Additional steps to complete the process

Signing up for notifications will keep you informed about the settlement. It will ensure you don’t miss any compensation you may be owed.

Key Dates to Remember

To help keep track of important deadlines and events, here are the key dates related to the settlement:

  • Ontario Court HearingFebruary 26, 2025

  • British Columbia Court Hearing (KOA only): March 11, 2025

  • Québec Court HearingApril 8, 2025

  • Claim Filing Deadline: This will be announced once the court approves the settlement.

Conclusion

A class-action suit over price-fixing may compensate Canadian consumers for high electronics prices. If you bought products with linear resistors between July 19, 2003, and September 14, 2015, you may be eligible for these settlements.

The companies deny any wrongdoing. The settlements let consumers get paid without long lawsuits. Be sure to stay informed about the court proceedings and the claims process to ensure that you can take full advantage of this opportunity. Keep an eye on the dates and sign up for notifications to stay updated on how to submit your claim.

These settlements may compensate Canadian consumers for their purchases. They aim to deliver justice for price-fixing that affected many electronic products.

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