Small Bearings

This action arises from a conspiracy to fix, raise, maintain, or stabilize prices of small sized bearings with an outside diameter of 26 millimetres or less (“Bearings”), used in electronic devices sold in Canada including British Columbia, and elsewhere. During the Class Period, the defendants and their senior executives participated in illegal and secretive meetings and made agreements relating to the prices for Bearings. The plaintiff and the Class Members suffered damages as a result.

Certification for Settlement

A settlement of CAD $600,000 has been reached with the defendants NSK Ltd. and NSK Canada Inc. (collectively “NSK”). This is the second and final settlement to be reached in the class actions. The NSK settlement agreement (the “NSK Agreement”) is subject to Court approval in Ontario, British Columbia and Quebec. Hearings to approve the NSK Agreement will be held as follows:

• Quebec: at the Montreal courthouse on May 2, 2022
• Ontario: at the Goderich courthouse on June 7, 2022
• British Columbia: at the Vancouver courthouse on June 28, 2022

Copies of the NSK Agreement, Short-Form and Long Form Notice (English and French) can be located under the “Important Documents” heading.

Settlement Class Members now have a chance to review the NSK Settlement and provide any comments or objections. Objections or comments need to be received by April 29, 2022.

Prior Settlement

A prior settlement was reached in the class actions with MinebeaMitsumi Inc. (formerly Minebea Co. Ltd.), NMB Korea Co., Ltd., NMB (USA) Inc. and NMB Technologies Corporation for CAD $1,500,000. If approved, the NSK settlement amount will be added to the previous settlement funds for distribution to class members less court-approved fees, disbursements and applicable taxes. Settlement funds will not be distributed to class members at this time. At a future date, the Courts will approve how the settlement funds will be distributed and how you can apply to receive a share of the settlement funds.

Opting-Out

The period for opting out of the small-sized ball bearings class action has passed. There is no further opportunity to opt-out.

Important Documents:

• Amended Notice of Civil Claim
• NMB Agreement
• NSK Agreement
• Short Form Notice (Englishand French)
• Long Form Notice (Englishand French)

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

Small Bearings - Status Updates:

Small Bearings - View

Small Bearings - View