resistor class action suit - Page 1
Forum section: electronics / general

author: jmelson
author_rank: Super Contributor
timestamp: July 22, 2019, 08:04:02 pm
content: I got a thing in the mail a couple days ago about a class action lawsuit over price fixing of resistors. I went through my documents and came up with about $4500 of resistor purchases over the timeframe of the suit. I have a question in to the law firm about exactly what supporting documents they need. I'm hoping they don't need photocopies of all the invoices, that runs to about 140 pages.Anyway, it will be interesting to see how much I end up getting from all this. They have a US $33 million settlement from about 8 manufacturers.Jon

author: chris_leyson
author_rank: Super Contributor
timestamp: July 22, 2019, 08:23:56 pm
content: Quote "Defendant companies included in this settlement are: Kamaya Inc., Kamaya Electric Co. Ltd., Walsin Technology Corporation, Walsin Technology Corporation USA, Hokuriku Electric Industry Co. Ltd., HDK America Inc., Panasonic Corporation, Panasonic Corporation of North America, ROHM Co. Ltd., ROHM Semiconductor U.S.A. LLC, KOA Corporation, and KOA Speer Electronics Inc."Maybe if I had purchased 100 million resistors over ten years and they cost $0.005 each and the price difference is lets say $0.001 then that would add up to $100k, 20% of the purchase price. I don't think i need to worry about it.

author: Reckless
author_rank: Frequent Contributor
timestamp: July 22, 2019, 08:49:25 pm
content: I'm pretty sure I have purchased 100 million resistors in last 10 years BUT I bought them in China. Panasonic was a big manufacturer we used.

author: langwadt
author_rank: Super Contributor
timestamp: July 22, 2019, 08:52:21 pm
content: Quote from: jmelson on July 22, 2019, 08:04:02 pmI'd expect it to end with the lawyers getting the $33M and everyone else getting a voucher for a little bit off next purchase at pricethat has increased to pay the lawyers

author: rhodges
author_rank: Frequent Contributor
timestamp: July 22, 2019, 10:03:23 pm
content: Mine said that they identified 96 cents of the resistors in question. Yay!

author: thm_w
author_rank: Super Contributor
timestamp: July 22, 2019, 11:03:01 pm
content: https://topclassactions.com/lawsuit-settlements/consumer-products/electronics/897652-linear-resistors-price-fixing-class-action-settlement/

author: mrpackethead
author_rank: Super Contributor
timestamp: July 23, 2019, 03:42:52 am
content: Yeah. oh wow. how much its it worth. $20. NOt even worth the time to reply to this post.

author: Tony_G
author_rank: Super Contributor
timestamp: July 23, 2019, 01:59:55 pm
content: Quote from: rhodges on July 22, 2019, 10:03:23 pmI must have been a big spender (not) as they identified $2.95 - My money is on a few people getting some money and the bulk of the $33M going to the lawyers. IIRC the actual docs said that the lawyers were asking for around $15M all up with a min in the $3M range.TonyG

author: Stray Electron
author_rank: Super Contributor
timestamp: July 23, 2019, 04:45:48 pm
content: Quote from: langwadt on July 22, 2019, 08:52:21 pmAbsolutely this. I've been a party to two large class action lawsuits and I got a check for $0.78 one time and IIRC the other was $1.39. This despite being cheated out of over $1000 both times. Now I won't allow lawyers to even add my name to these ridiculous suits. They make millions of dollars but the people that they claim to represent don't get enough money to make it worth their while to drive to the bank in order to cash the check.Use that letter for toilet paper, that will be the only effective use for it.

author: exe
author_rank: Unknown
timestamp: July 23, 2019, 05:01:59 pm
content: I wonder about details. How did they prove the case? Was it an insider or something?

author: Stray Electron
author_rank: Super Contributor
timestamp: July 23, 2019, 06:08:35 pm
content: I don't think that they have to "Prove" the case. What they have to do is to persuade the judge to allow it to be a case action lawsuitand require that any and all potential plaintiffs join that suitand to NOT allow future potential plaintiffs to file a separate lawsuit. Then this legal group can "settle" aka make-a-deal, with the defendant to settle out of court for XX millions of dollars without having to "Prove" anything. The benefit to the defendant is that they pay once and all future liability simply vanishes. Usually these settlements are done without the defendant admitting any guilt so not only are they relieved of all future cost related damages but also any potential future criminal charges and any future liability for related economic damages.. It's a Win-Win for the class action lawyers and for the company involved and a bigFUto the victims and all consumers in general. And it's all perfectly legal!

author: thm_w
author_rank: Super Contributor
timestamp: July 23, 2019, 09:56:58 pm
content: Quote from: Stray Electron on July 23, 2019, 04:45:48 pmThen don't join and end up with nothing, that is your choice.The last ones I've had were $10-30 (DRAM and LCD price fixing). I don't need to drive to the bank to deposit a check, take a photo with phone and its deposited.https://topclassactions.com/lawsuit-settlements/class-action-settlement-checks-mailed/906779-canada-dry-oregon-flat-panel-settlement-checks-mailed/

author: jmelson
author_rank: Super Contributor
timestamp: July 24, 2019, 06:37:44 pm
content: Quote from: Stray Electron on July 23, 2019, 06:08:35 pmRight, they already have settled with the defendants for $33 million. They said they had a cap at about $2 million for lawyer's fees.I've bought 269,000 resistors for about $4500.Jon