Lithium Ion Rechargeable Batteries

Case Name:

Cruz v. LG Chem Ltd. et al.

Court:

Supreme Court of British Columbia

Date Filed:

November 19, 2012

Class Members:

All persons resident in British Columbia who, during some or all of the period from January 1, 2002 to January 1, 2012 purchased Lithium Ion Rechargeable Batteries, or Products Containing Lithium Ion Rechargeable Batteries.

Co-counsel:

Siskinds LLP

Sotos LLP

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This proposed class action alleges that Defendants and their senior executives participated in illegal and secretive meetings and made agreements to fix, maintain, increase, and control the price for the supply of Lithium Ion Rechargeable Batteries and/or enhance unreasonably the prices of Lithium Ion Rechargeable Batteries and to lessen unduly competition in the sale of Lithium Ion Rechargeable Batteries in Canada and elsewhere.

The action seeks to recover the overcharge that class members paid for Lithium Ion Rechargeable Batteries during the period of January 1, 2002 to January 1, 2012.

New Settlements

Additional settlements have been reached with the following defendants totaling over $5 million:

LG Chem, Ltd. and LG Chem America, Inc. (“LG Chem”) for USD $3,900,000 (converted to approximately CDN $5,100,000); and
Toshiba Corporation, Toshiba America Electronic Components, Inc. and Toshiba of Canada Limited (“Toshiba”) for CDN $264,759.67.

The LG Chem settlement is subject to court approval in both Ontario and Quebec. The Toshiba settlement is subject to court approval of Ontario court only. Hearings to approve the settlement agreements will be held as follows:

Ontario: at the Toronto courthouse on June 5, 2019 at 11:00 a.m.; and
Quebec: at the Montreal courthouse on July 5, 2019 at 10:00 a.m.

The settlement funds (plus interest, less court-approved fees and expenses) are being held in trust for the benefit of settlement class members. At a later date, the courts will be asked to approve a method of distributing the settlement funds to settlement class members.

Previous Settlements

NEC Corporation and NEC Tokin Corporation (“NEC”) for CDN $50,000;
Samsung SDI Co., Ltd. and Samsung SDI America, Inc. (“Samsung”) for USD $2,200,000; and
Sony Corporation, Sony Energy Devices Corporation, Sony Electronics, Inc. and Sony of Canada Ltd. (“Sony”) for CDN $4,500,000.

Important Documents:

For more information please contact Sharon Wong, Paralegal at (604) 689-7555 or by email at [email protected].