Proposed settlement reached in class action against Samsung and Hynix for
alleged unlawful price fixing of dynamic random access memory (DRAM)
OTTAWA, May 31, 2013
Purchasers of DRAM or products containing DRAM may be eligible to claim
compensation from multi million dollar settlement fund
OTTAWA, May 31, 2013 /PRNewswire/ - The Plaintiffs in class actions filed in
British Columbia, Ontario and Québec claim that Samsung Electronics Co., Ltd.,
Samsung Semiconductor Inc., Samsung Electronics America, Inc. and Samsung
Electronics Canada Inc. ("Samsung") and Hynix Semiconductor Inc., Hynix
Semiconductor America Inc. and Hynix Semiconductor Manufacturing America, Inc.
("Hynix"), and numerous other DRAM manufacturers conspired to fix the prices
for DRAM or products which contain DRAM in Canada. DRAM is a type of memory
commonly used in computers and communication devices.
Today the parties to the lawsuit announce settlements with the defendants
Samsung and Hynix which are subject to court approval. Samsung will pay CAD
$22,600,000 and Hynix will pay CAD $15,600,000 for the benefit of settlement
class members and will each provide cooperation that will assist with
prosecuting the ongoing actions against remaining defendants in exchange for a
full release of claims against them and their related entities.
Residents of Canada or the United States at the time of purchase and/or at the
time of notice, who purchased DRAM or products which contained DRAM in Canada
between April 1, 1999 and June 30, 2002 are settlement class members.
In order for these settlements to become effective, they must be approved by
the three courts, which must be satisfied that the settlements are fair,
reasonable, and in the best interests of the Class Members. The dates and
locations for the approval hearings are as follow:
1. June 25, 2013, at the Québec Court in the city of Montreal at 2:00 p.m. in
2. June 27, 2013, at the British Columbia Court in the City of Vancouver at
3. July 16, 2013 at the Ontario Court in the City of Toronto at 9:30 a.m.
OPTIONS FOR CLASS MEMBERS
Persons who believe that they are Class Members have the following options:
*SUPPORT THE SETTLEMENT - Class Members who support these proposed
settlements, do not need to take any steps or appear at the approval
*OBJECT TO THE SETTLEMENT - Class Members who wish to or object to these
proposed settlements are required to submit a written objection to Class
Counsel no later than June 21, 2013. Class Counsel will file copies of all
objections with the courts.
DISTRIBUTION OF SETTLEMENT FUNDS
The settlement funds will be held in trust for the benefit of the settlement
class members at this time. The Plaintiffs and Class Counsel are currently
developing a method for distributing the settlement funds to settlement class
members. The courts will be asked to approve the distribution and claims
process at a later date with notice to the settlement class members.
WHERE CAN CLASS MEMBERS GET MORE INFORMATION?
*For more information, or to register to obtain notice of approval of the
settlement, visit: www.cfmlawyers.ca/dram
or contact Class Counsel:
In English In French
Mr. J.J. Camp, Q.C. Me Maxime Nasr
Camp Fiorante Matthews Mogerman Belleau Lapointe, s.a.
#400 - 856 Homer Street 306, Place d'Youville, Bureau B-10,
Vancouver, BC V6B 2W5 Montréal (Québec) H2Y 2B6
T: 1-800-689-2322 T: 514-987-6700
*Please note, this news release is just a summary.
Do not contact the courts directly about these settlements.
SOURCE DRAM Class Actions
Mr. J.J. Camp, Q.C.
Camp Fiorante Matthews Mogerman
#400 - 856 Homer Street
Vancouver, BC V6B 2W5
Me Maxime Nasr
Belleau Lapointe, s.a.
306, Place d'Youville, Bureau B-10,
Montréal (Québec) H2Y 2B6
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