ABOUT THE CASE
In this class action lawsuit, filed in July 2014, the Joseph Saveri Law Firm, LLP is the sole lead counsel in a suit against capacitor manufacturers for alleged price-fixing. The lawsuit, filed in the U.S. District Court for the Northern District of California, was brought on behalf of nearly two dozen electronic component manufacturers that were direct purchasers of aluminum, tantalum, and film capacitors.
The lawsuit alleges that these capacitor manufacturers, faced with declining demand, agreed to raise, fix, and stabilize capacitor prices. Capacitors are electronic circuit components 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, and film capacitors may have started as far back as 2002 and continued through at least 2013.
The U.S. Department of Justice (DOJ), along with regulators in China, Japan, South Korea, Singapore, Taiwan, Canada, Brazil, and Europe, have actively investigated the price-fixing allegations, and many have imposed fines against some or all of these same defendant manufacturers. 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, eight additional capacitors manufacturers and two of their individual executives have pleaded guilty and been sentenced for violating federal antitrust laws following their plea agreements with the DOJ. Additional related executives remain under indictment.
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 defendants’ collusion.
To date, the firm has reached five rounds of settlements totaling $604.55 million with various defendants.