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.
On November 8, 2018, the BC Court approved a motion to certify the within action as against MinebeaMitsumi Inc. (formerly Minebea Co. Ltd.), NMB Korea, NMB (USA) Inc., and NMB Technologies Corporation (“NMB”) for settlement purposes.
The NMB settlement agreement (the “NMB Agreement”) is subject to Court approval in Ontario, British Columbia and Quebec. Hearings to approve the NMB Agreement will be held as follows:
Copies of the NMB Agreement, Short-Form and Long Form Notice (English and French) can be located under the “Important Documents” heading below.
For more information please contact Sharon Wong, Paralegal at (604) 689-7555 or by email at [email protected].
Small Bearings - View