This class action alleges that the defendants engaged in unlawful price fixing of Dynamic Random Access Memory (DRAM) during the time period April 1, 1999 to June 30, 2002 (the “Class Period”). DRAM is a commonly used semiconductor memory product found in computers, servers, telecommunications and a host of other consumer electronic products. The manufacturers of these chips pleaded guilty in the United States for fixing the prices of DRAM rather than engaging in proper competitive practices. Class actions have also been initiated in Ontario and Quebec.
Pour de plus amples information en Français, vous pouvez consulter le site Internet: http://www.recourscollectif.info/fr/dossiers/dram/
The British Columbia Court of Appeal ordered that the case be certified. The defendants sought leave to appeal to the Supreme Court of Canada. The Supreme Court of Canada denied leave to appeal and denied a reconsideration motion. The case is being prosecuted with great vigor and settlements have been reached with several defendants.
The Quebec Court of Appeal authorized the Quebec class action. The defendants appealed to the Supreme Court of Canada. On October 31, 2013 the Supreme Court of Canada upheld the Quebec Court of Appeal’s decision authorizing the Quebec class action.
The Ontario class actions have only been certified against certain defendants for settlement purposes only.
Total settlements have been reached in this action totalling over $67 million.
The Plaintiffs and Class Counsel have now developed a draft settlement distribution plan and a claims process for the benefit of class members. A copy of the draft distribution plan is available below:
Class Counsel retained the Honourable Ian Binnie, a retired justice of the Supreme Court of Canada, and Dr. Thomas Ross, a senior economist with the Sauder School of Business, to provide independent advice and findings about the distribution the settlement funds among class members. Dr. Ross has written two reports regarding the distribution of settlements funds in this matter, copies of which are available here:
Mr. Binnie will be holding a hearing on May 21, 2014 starting at 10am at Arbitration Place, 900-333 Bay Street in Toronto, Ontario regarding the appropriate means of distributing the settlement funds and whether he will recommend that the distribution protocol be accepted by the three supervising courts in BC, Ontario, and Québec.
It is important that Mr. Binnie have the views and opinions of class members regarding the Distribution Protocol. If you wish to provide comments to Mr. Binnie or participate in the hearing (in person or by phone), please contact us at email@example.com or by phone at 604-689-7555.
The Courts will be asked to approve the distribution and claims process at a future date. Advance notice of that hearing will be provided.
Settlement Class members may be required to file a claim for payment at a later time. Settlement Class members who have proof of purchase of DRAM Products purchased during the Class Period (April 1, 1999 to June 30, 2002) should retain those proofs of purchase. Class Counsel recognize that not all class members will have proof of purchase.
Monitor this website for updates on the class actions and future claims process.
On April 5, 2013 a settlement agreement was reached with the defendants Hynix Semiconductor Inc., Hynix Semiconductor America Inc. and Hynix Semiconductor Manufacturing America, Inc. (together “Hynix”) for the sum of $15,600,000 and cooperation with the plaintiffs in pursuing their claims against the non-settling defendants.
For details of the settlement and settlement hearings, see the following documents:
On April 30, 2013 a settlement agreement was reached with the defendants Samsung Electronics Co., Ltd., Samsung Semiconductor, Inc., Samsung Electronics America, Inc. and Samsung Electronics Canada Inc. (together “Samsung”) for the sum of $22,600,000 and cooperation with the plaintiffs in pursuing their claims against the non-settling defendants.
On October 16, 2012 a settlement agreement was reached with the defendants Micron Technology, Inc. and Micron Semiconductor Products, Inc. doing business as Crucial Technologies (together, “Micron”) for the sum of $17.5 million and cooperation with the plaintiffs in pursuing their claims against the non-settling defendants.
On July 24, 2012, a settlement agreement was reached with the defendants Nanya Technology Corporation and Nanya Technology Corporation USA (together, “Nanya”) for the sum of $325,000 and cooperation with the plaintiffs in pursuing their claims against the non-settling defendants.
On November 28, 2012, a settlement agreement was reached with the defendants NEC Corporation, NEC Corporation of America , NEC Canada Inc., Renesas Electronics Corporation and Renesas Electronics America Inc. (together “NEC”) for the sum of $2.75 million and cooperation with the plaintiffs in pursuing their claims against the non-settling defendants.
On December 18, 2012, a settlement agreement was reached with the defendants Hitachi Electronic Devices (USA), Inc. Hitachi Power Systems Canada Ltd. and Renesas Electronics Canada Ltd. (together “Hitachi and Renesas Canada”) for the sum of $2.75 million and cooperation with the plaintiffs in pursuing their claims against the non-settling defendants.
On June 23, 2012 the settlement agreement with the Elpida defendants was approved by the B.C., Ontario and Quebec courts. The settlement was for $5.75 million and cooperation with the plaintiffs in pursuing their claims against the non-settling defendants.
Class Counsel legal fees and disbursements must be approved by the Courts. Class Counsel will collectively be requesting legal fees of up to 30% of the settlement funds, plus disbursements and applicable taxes to be paid out of the settlement funds.
Class Counsel will request these fees at the hearings to approve the distribution of settlement funds to Settlement Class members. Notice of that hearing and a deadline for any objections to Class Counsel’s fees will be provided at that time.
For more information please view:
For further information concerning this action, please contact Linnae Roach, Paralegal, at 604-331-9523, or email firstname.lastname@example.org.
DRAM Class Action: the Hon. Ian Binnie to consider Distribution of Settlement Funds - View
DRAM Class Action: Samsung and Hynix settlements approved - View
DRAM Class Action: Defendants’ appeal of class certification denied - View
DRAM Class Action: Hearings to Approve Settlement Agreements with Samsung and Hynix to be heald June and July, 2013 - View
DRAM Class Action – Notice of January 24, 2013 Settlement Agreement Approval Hearings for Micron, Nanya, NEC, Hitachi and Renesas Settlement Agreements - View