If you own a smartphone, computer, or any other electronic device, you might be eligible to claim compensation as part of the proposed class-action settlements in Canada. These settlements revolve around allegations of price-fixing in linear resistors, a critical component in countless electronic devices.

Understanding the Class Action Settlement

The lawsuits focus on the alleged price-fixing of linear resistors, small but essential components used to control electrical current in electronic circuits. Found in devices such as smartphones, gaming consoles, computers, home appliances, and televisions, these resistors are integral to the functionality of modern electronics. This makes the settlement relevant to a vast number of Canadian consumers.

Settlement Agreements and Compensation

Two settlements have been proposed:

• KOA Corporation and KOA Speer Electronics, Inc. have agreed to pay $3.3 million.
• Susumu Co., Ltd. and Susumu International (USA), Inc. will contribute an additional $90,000.

Despite agreeing to the settlements, both companies deny any wrongdoing. In their official statement, the defendants maintain there was no anti-competitive conduct or liability for the claims made against them.

Eligibility for Settlement Claims

If you purchased linear resistors or products containing these components between July 19, 2003, and September 14, 2015, you could qualify to file a claim. As linear resistors are present in a wide array of devices, millions of Canadians may be eligible to participate in the settlement.

Settlement Approval Process

The proposed settlements must receive court approval in Ontario, British Columbia, and Québec before any compensation is distributed. The scheduled hearing dates are:

• Ontario: February 26, 2025
• British Columbia (KOA only): March 11, 2025
• Québec: April 8, 2025

During these hearings, courts will evaluate the fairness and reasonableness of the agreements and determine if they are in the best interests of the Settlement Class.

How Will the Settlement Funds Be Distributed?

The settlement funds, along with any accrued interest, are being held in an interest-bearing trust account. After court approval, certain deductions will be made, including:

• Court-approved legal fees
• Disbursements
• Applicable taxes

The remaining funds will then be distributed among eligible claimants based on the claims process.

Claims Process and Next Steps

Once the settlements are approved, further details on the claims process will be released. These details will include:

• Eligibility criteria for submitting a claim
• Assessment and valuation methods for claims
• Deadlines and filing procedures

Foreman & Company, the law firm managing the settlements, assures that comprehensive information will be provided to guide claimants through the process.

Stay Updated

To avoid missing important updates or deadlines, consumers are encouraged to sign up for notifications. Regular updates will provide essential information regarding court decisions and the subsequent steps for filing claims.

Conclusion

The Canadian Electronics Class Action Settlement offers a significant opportunity for consumers to claim compensation for alleged overcharges on electronic devices containing linear resistors. With settlements totaling $3.39 million, this case underscores the importance of consumer rights in addressing unfair market practices. Stay informed and prepared to take advantage of the compensation you may be entitled to.