Close X
Wednesday, December 4, 2024
ADVT 
National

Class-action Lawsuit Seeks $480m For Price-fixing By Electronics Giants in BC

THE CANADIAN PRESS , 06 Oct, 2014 11:43 AM

    VANCOUVER - A class-action lawsuit has been filed in four provinces claiming that suppliers of the tiny electronic capacitors found in everything from cellular phones to kitchen stoves have been working together to inflate prices.

    The suit filed in Ontario, British Columbia, Saskatchewan and Quebec claims Samsung, Hitachi, Panasonic, Sanyo, TDK and others have colluded since at least 2005 inflating prices by as much as $480 million.

    Lawyer Tony Merchant says the electronic manufacturers acted as a cartel and the U.S. Justice Department is in the midst of a sweeping investigation into price-fixing by these companies.

    He says trillions of capacitors are used every year and the inflated costs are ultimately passed on to consumers.

    Merchant says both manufacturers who bought the capacitors for their products and consumers who paid for finished products have signed on to the lawsuit, but potentially every Canadian has been affected.

    A class-action lawsuit must be approved by a judge and the allegations in the claim have not been proven in court.

    MORE National ARTICLES

    Ernst & Young agrees to pay $8 million to settle with Ontario regulator

    Ernst & Young agrees to pay $8 million to settle with Ontario regulator
    TORONTO - Ernst & Young LLP has agreed to pay $8 million in two settlements with the Ontario Securities Commission, which accused the firm of mishandling the audits of two Chinese companies, including Sino-Forest Corp.

    Ernst & Young agrees to pay $8 million to settle with Ontario regulator

    Woman who killed herself in CBSA custody feared torture in Mexico

    Woman who killed herself in CBSA custody feared torture in Mexico
    Just days before she hanged herself in December 2013, Lucia Vega Jimenez cut fruit and chatted about international Christmas traditions with inmates inside a maximum-security women's prison east of Vancouver.

    Woman who killed herself in CBSA custody feared torture in Mexico

    Calgary Man Aims At Wolflike Critters But Shoots Self In Arm

    Calgary Man Aims At Wolflike Critters But Shoots Self In Arm
    CALGARY - Eternally outsmarted cartoon character Wile E. Coyote has come out on top for once.

    Calgary Man Aims At Wolflike Critters But Shoots Self In Arm

    Canada's CF-18s Fighter Jets To Get Life-extension Upgrades To Keep Flying Until 2025

    Canada's CF-18s Fighter Jets To Get Life-extension Upgrades To Keep Flying Until 2025
    A spokeswoman for Defence Minister Rob Nicholson says the jets are an important component of the country's defence and will be updated to keep them flying until 2025.

    Canada's CF-18s Fighter Jets To Get Life-extension Upgrades To Keep Flying Until 2025

    Saskatchewan To Focus On Trade With Asia: Report

    Saskatchewan To Focus On Trade With Asia: Report
    REGINA - Premier Brad Wall says Saskatchewan is looking to triple its exports to Asia by 2020 to keep in line with a report's recommendations.

    Saskatchewan To Focus On Trade With Asia: Report

    BC Man Who Got Grouchy With Police Sentenced To Jail For Stealing Booze

    BC Man Who Got Grouchy With Police Sentenced To Jail For Stealing Booze
    A provincial court in Kamloops, B.C., has heard that a man who called a police officer a pig after being arrested was Grouchy.

    BC Man Who Got Grouchy With Police Sentenced To Jail For Stealing Booze