OAKLAND, California, Sept. 24, 2020 /PRNewswire-HISPANIC PR WIRE/ — The following statement is being issued by Hagens Berman Sobol Shapiro LLP regarding In re Lithium ION Batteries Antitrust Litigation.
A Federal Court authorized this Notice. This is not a solicitation from a lawyer.
What Are The Settlements?
Several manufacturers of lithium ion batteries1 have agreed to pay $113.45 million in Settlements to resolve claims that they fixed the price of Lithium-Ion Batteries, causing individuals and businesses to pay more for products like portable computers, power tools, camcorders, mobile phones, or replacement batteries for any of these products. A federal court previously approved the Settlements but is now considering whether to finally approve a Revised Settlement Distribution Plan.
A more detailed notice, which includes additional information about the settlements, is available at the settlement website (www.reversethecharge.com) or by calling 1-855-730-8645.
What Is This Notice About?
You are receiving this email because you may be a Class Member and the proposed plan to distribute funds from the settlements has changed. There is a deadline to object before the Court decides whether to grant final approval of the Revised Settlement Distribution Plan.
Am I Included?
If you indirectly bought a lithium ion battery or battery pack made by the Settling Defendants during the period from January 1, 2000 through May 31, 2011, you may be affected by the change to the distribution plan. This includes finished products that contain such batteries, including: (i) portable computers; (ii) power tools; (iii) camcorders; (iv) mobile phones, tablet computers, cameras and digital audio players; or (iv) a replacement battery for any of these products. Purchasers of the finished products in category (iv) or non-specified products may only make claims against the proceeds of the Sony settlement. “Indirectly” means the product was purchased from someone other than the battery manufacturer, such as a retail store.
What is the Revised Settlement Distribution Plan?
The Settlement Fund is $113.45 million. After deducting Court-approved attorneys’ fees, service awards, notice and administration costs, and litigation expenses, the remaining Net Settlement Fund will be divided into two funds. 90% of the Net Settlement Fund will be available for distribution to Class Members who are residents of the following Repealer States: Alabama, Arizona, Arkansas, California, District of Columbia, Florida, Hawaii, Illinois, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Carolina, North Dakota, Oregon, South Dakota, Tennessee, Utah, Vermont, West Virginia, and Wisconsin. All other states and/or jurisdictions are “Non-Repealer” States. The rest (10% of the Net Settlement Fund) will be available for distribution to Class Members who are residents of other states. However, the plan for distributing the Settlement Funds is not final and may be changed by the Court after considering any and all objections by Class Members. If the Court determines that further changes to the allocation of the Settlement Funds are appropriate, those changes will be posted on the settlement website (www.reversethecharge.com), which also provides more details about the Settlements. The Court has the discretion not to pay any “de minimis” claims where the value of the claim does not justify the cost of distribution.
How Has the Distribution Plan Changed?
Previously, the proceeds of the Sony settlement were to be distributed regardless of the Class Member’s state of residence. The other settlements were to be distributed differently based on state of residence, as described above. Under the new plan, the Sony settlement proceeds will be distributed in the same way as the other settlements, according to the state of residence.
How Can I Get A Payment And How Much Will I Receive?
Money from all settlements in this case will be distributed together on a per-device basis, but the amount you receive from each settlement will depend on the Court-approved Revised Settlement Distribution Plan as outlined above. If final approval is granted to the Revised Settlement Distribution Plan, Class Members who have already filed a valid and timely claim will receive cash payments once the Settlements have become final, which may not be for some time. The deadline to file a claim has already passed. The deadline was July 19, 2019. If you did not already file a claim, you will not receive a cash payment from the Settlements.
What Are My Rights?
You may object to the Revised Settlement Distribution Plan in writing by November 16, 2020. The Settlement Agreements, along with details on how to object to the Revised Settlement Distribution Plan, are available at the settlement website (www.reversethecharge.com).
The Court will hold a Final Fairness Hearing on December 8, 2020, at 2:00 p.m., to consider whether to approve or modify the Revised Settlement Distribution Plan. The hearing will be conducted on a Zoom platform with the link posted on the Court’s PACER site and at the settlement website (www.reversethecharge.com). If you object, you or your own attorney may appear and speak at the hearing to comment on the Revised Settlement Distribution Plan, but you are not required to appear. The hearing may be moved to a different date or time without additional notice, so it is a good idea to check the website for additional information. Please do not contact the Court about this case. Detailed information is available at the settlement website (www.reversethecharge.com) or by calling 1-855-730-8645.
Source: United States District Court for the Northern District of California
1 The “Settling Defendants” are Sony Corporation, Sony Energy Devices Corporation, and Sony Electronics Inc. (collectively “Sony”); LG Chem, Ltd. and LG Chem America, Inc. (“LG Chem”); Hitachi Maxell Ltd. and Maxell Corporation of America (“Hitachi Maxell“); NEC Corporation (“NEC”); Samsung SDI Co., Ltd. and Samsung SDI America, Inc. (“SDI”); TOKIN Corporation (“TOKIN”); Toshiba Corporation (“Toshiba”); and Panasonic Corporation, Panasonic Corporation of North America, SANYO Electric Co., Ltd., and SANYO North America Corporation (“Panasonic”).
SOURCE United States District Court for the Northern District of California
