The Joseph Saveri Law Firm, LLP has received the American Antitrust Institute’s (AAI) prestigious 2023 Antitrust Enforcement Award for Outstanding Antitrust Litigation Achievement in Private Law Practice.
The firm was honored for its work on In re Capacitors Antitrust Litigation, No. 3:14-cv-03264-JD, 3:17-md-02801-JD (N.D. Cal.), in which it was Court-appointed sole Lead Counsel. Team members include the firm’s Joseph Saveri, Cadio Zirpoli, Christopher K.L. Young, Joshua Davis (now with Berger Montague), and Anupama Reddy (now with Google); Cera LLP’s C. Andrew Dirksen; Levin Sedran & Berman LLP’s Austin Cohen and Keith Verrier; Berger Montague’s Eric Cramer, Michael Kane, Mark Suter (now with the FTC), and Ruthanne Gordon (retired); and Hartley LLP’s Jason Hartley. All members were lawyers on the plaintiffs’ trial team for the direct purchaser class.
Capacitors involves allegations that dozens of international corporations conspired to fix the prices of capacitors above competitive levels. Capacitors are a passive electronic component found in almost all electronic devices.
Joseph Saveri speaks at AAI Awards Night 2023
The case was first tried in March 2020 but halted by the onset of the COVID-19 pandemic and declared a mistrial. A new trial took place in November-December 2021: one of the few civil jury trials to be tried during the pandemic, and certainly one of the largest in scale. The Class reached settlements of $165 million with the remaining defendants immediately before closing arguments and the jury was to receive the case. These settlements were approved by the Court in January 2023. Combined case settlements total $604.55 million, significantly exceeding the single damages in this case, which were calculated as $427 million or approximately 141% of single results—an extraordinary accomplishment.
Honorees for this and other awards will be recognized at AAI’s Awards Night on November 2, 2023, following AAI's 17th Annual Private Antitrust Enforcement Conference in Washington, D.C. Proceeds from the dinner help the AAI serve the public through research, education, and advocacy. Honorees receive an engraved award.
AAI is an independent, nonprofit organization devoted to promoting competition that protects consumers, businesses, and society. It serves the public through research, education, and advocacy on the benefits of competition and the use of antitrust enforcement as a vital component of national and international competition policy. It is a 501(c)(3) not-for-profit organization.