The Joseph Saveri Law Firm has filed a class action lawsuit against manufacturers of resistors, a passive electronic component found in nearly all electric circuits. The complaint, filed on behalf of Chip-Tech Ltd., alleges that resistor manufacturers conspired to raise or stabilize the price of resistors from January 1, 2003 to the present, and that resistors sold during this period were purchased at inflated prices. Joseph Saveri Law Firm seeks to represent a class of direct purchasers, who purchased resistors directly from manufacturers such as AVX, Kemet, Panasonic, KOA Speer Electronics, ROHM, Vishay, and TDK.
Resistors are components that are used to modulate and reduce current in electric circuits, allowing consumers to control volume or heat level by adjusting resistance in electric circuits. Resistors comprise 80% or more of the volume in most electric circuits used in the United States, and are found in virtually every electric device.
Plaintiff alleges that Defendants have conspired for over twelve years to eliminate or reduce price competition for resistors manufactured and sold world-wide, including in the United States. As the Complaint alleges, facing declining demand for their resistors manufacturers agreed to exchange non-public information on price and production in order to artificially inflate prices of resistors sold to customers.
Price fixing in the resistors markets, and passive electric components generally, has attracted scrutiny from U.S. law enforcement agencies, including the U.S. Department of Justice.
Plaintiff seeks treble damages from Defendants for violating Section 1 of the Sherman Act.
On August 24, 2015, the Joseph Saveri Law Firm filed the first Class Action Complaint on behalf of Chip-Tech, Ltd.
On September 8, 2015, Plaintiffs submitted an Amended Complaint.