Oct 06, 2014
By Michael Kramer
A class-action price fixing lawsuit has been filed in four provinces.
The suit claims that suppliers of the tiny electronic capacitors – found in everything from kitchen stoves to cell phones – have been bumping up prices.
Claims filed here in Ontario and in Quebec, Saskatchewan and B.C. allege that Samsung, Hitachi, Panasonic, Sanyo, TDK and others have worked together since at least 2005 – to inflate prices by as much as $480 million.
Lawyer Tony Merchant says the electronic manufacturers acted as a cartel – and the American Justice Department is carrying on a sweeping investigation into price-fixing by these companies.
Merchant says trillions of the capacitors are used every year – with the artificially increased costs ultimately passed on to consumers.
He also says both the manufacturers – who purchased the devices for their products – and the consumers who paid for finished products have joined the lawsuit – but potentially every Canadian has been affected.
The allegations in the claim have not been proven in court and a class-action lawsuit must be approved by a judge.