Amendments to Settlements Have Been Reached With Seven Defendants in the Cathode Ray Tubes (CRT) Indirect Purchaser Class Actions
A Federal Court authorized this notice. This is not a solicitation from a lawyer.
Please read this notice carefully. Your legal rights may be affected whether or not you act.
This is the fourth legal notice in the indirect purchaser litigation known as In re: Cathode Ray Tube (CRT) Antitrust Litigation, MDL No. 1917, in the U. S. District Court for the Northern District of California. There are nine (9) settlements in this litigation involving alleged overcharges on the price of Cathode Ray Tube (“CRT”) Products purchased indirectly from the Defendants.
- “CRT Products” include CRTs and products containing CRTs, such as televisions and computer monitors.
- “Indirectly” means that you purchased the CRT Product from someone other than a Defendant or alleged co-conspirator. For example, you bought a television containing a CRT from a retailer, such as Best Buy or Costco, or a computer monitor containing a CRT from Dell.
The Court previously approved settlements with two Defendants, Chunghwa and LG, for $35,000,000. Six settlements with seven additional Defendants—Philips, Panasonic, Hitachi, Toshiba, Samsung SDI, Thomson and TDA—totaling $541,750,000, were approved by Court in 2016 (the “2016 Settlements”). Thus, settlements with all nine defendants previously totaled $576,750,000.
Plaintiffs have agreed to amend the 2016 Settlements to address objections by certain class members, and have entered into “Amendments” with each of the seven Defendants.
The Amendments provide that the net settlement fund, after deducting attorneys’ fees, is unchanged.
What do the Amendments provide? The Amendments:
- Reduce the total Settlement Amount for the six settlements by $29,000,000 to $512,750,000 plus accrued interest;
- Provide that Class Counsel will reduce their attorneys’ fee request by $29,000,000 so that the net settlement fund for the 2016 Settlements after deducting attorneys’ fees is unchanged;
- Apply only to consumers who purchased CRT Products in Arizona, the District of Columbia, California, Florida, Hawaii, Iowa, Kansas, Maine, Michigan, Minnesota, Mississippi, Nebraska, Nevada, New Mexico, New York, North Carolina, North Dakota, South Dakota, Tennessee, Vermont, West Virginia, and/or Wisconsin (the “22 Indirect Purchaser State Classes); and
- Provide that the 2016 Settlements do not release the claims of consumers who purchased CRT Products in all other states.
All other terms of the 2016 Settlements remain the same. The total settlements among the nine defendants now total $547,750,000 plus accrued interest.
What are Your Legal Rights and Options in the Amendments to the Settlements?
- OBJECT BY MAY 29, 2020: You or your attorney may file an objection with the Court explaining why you disagree with the Amendments to the 2016 Settlements and/or the request for attorneys’ fees.
- GO TO THE HEARING ON JULY 8, 2020: You or your attorney may attend the hearing and ask to speak to the Court about the Amendments to the 2016 Settlements or attorneys’ fees.
- DO NOTHING: If you submitted a claim in the settlements, it will be processed and all valid claims will be paid after the Court grants final approval and after any appeals are resolved.
- NO RIGHT TO EXCLUDE YOURSELF: You may no longer exclude yourself from 2016 Settlements. An opportunity to exclude yourself from the 2016 Settlements was already provided.