San Francisco, CA | Today, in California federal court, a $160 million settlement was reached In re Capacitors Antitrust Litigation, no. 3:17-md-02801-JD (N.D. Cal.). The Joseph Saveri Law Firm, court-appointed sole lead counsel, played a crucial role in managing and prosecuting this landmark case to a successful conclusion. This win comes on the heels of four prior rounds of settlements totaling $439.55 million against several defendants.
"We are proud of the settlement reached with the two remaining defendants today during trial," says Joseph Saveri, lead counsel on the case. "This case, starting in 2014 against more than twenty capacitor manufacturer defendants, has been a hard-fought battle now featuring over $600 million in settlements with almost all defendants over its history. Last year, the case was halted due to the pandemic, but the firm remained ready to take this case to the jury. Through the declaration of a mistrial in the June of 2020, also because of the pandemic, and with the new trial that commenced a few weeks ago, November 29, the firm remained committed to shepherding this case through to verdict. We strongly believe these ground-breaking settlements will deter this type of collusive behavior in the future, to the benefit of us all. This case consistently revealed defendants' behavior for what it was: a cartel that illegally fixed prices in a way that had a global impact on capacitors' prices and our pocketbooks."
Capacitors are built into nearly every electronic device manufactured today, and trillions of capacitors are manufactured each year. Price-fixing in the multibillion-dollar market for the various forms of capacitors affected consumers across the world. For more information on the case, please see our case page.