LG Chem Settles Lithium-Ion Battery Class Action Lawsuit for $39M

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LG Chem Ltd. has reportedly agreed to pay $39 million to settle allegations that it conspired to fix the prices of lithium-ion batteries.

The proposed LG Chem settlement will offer indirect buyers of lithium-ion batteries approximately 31.6 percent of their alleged damages, a recovery that the plaintiffs’ motion for preliminary approval says is “outstanding for this stage of the case – the class has not been certified and discovery has not yet closed.”

The lithium-ion battery class action lawsuits were filed back in 2012 against a number of companies, including Sony, LG, Panasonic, Sanyo, Hitachi, Maxell, Samsung and Toshiba. The plaintiffs assert that the companies have controlled nearly 90 percent of the world’s battery market, and that their price-fixing scheme caused consumers to pay more for batteries than they otherwise would have.

In 2013, the battery price-fixing class action lawsuits were consolidated into multidistrict litigation in California federal court.

The proposed Class includes all persons and entities who, between Jan. 1, 2000 and May 31, 2011, indirectly purchased one of the following products that contain a lithium-ion cylindrical battery manufactured by one or more of the defendants or their co-conspirators: portable computer, power tool, camcorder, or a replacement battery for any of those products.

The funds will reportedly be distributed on a pro rata basis to Class Members based on the number of approved purchases and the number of valid claims filed. Class Members will not be required to provide proof of purchase when submitting a claim, but the settlement documents recommend consumers to hold on to any documentation about their purchase. Proof of purchase may be required for large purchases.

In February, the Sony defendants agreed to pay $19 million to exit the lithium-ion battery price-fixing litigation.

There is currently no money available to Class Members from the battery price-fixing settlements. However, a website has been established with details about the settlements. Although the claims period is not yet open, Class Members may register for updates to stay informed about the claims process.

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The plaintiffs are represented by Joseph W. Cotchett, Nancy L. Fineman, Demetrius X. Lambrinos, Joyce Chang and Steven N. Williams of Cotchett Pitre & McCarthy LLP, and Jeff D. Friedman, Steve W. Berman and Shana E. Scarlett of Hagens Berman Sobol Shapiro LLP.

The Lithium-Ion Battery Price-Fixing Class Action Lawsuit is In re: Lithium-Ion Batteries Antitrust Litigation, Case No. 4:13-md-02420, in the U.S. District Court for the Northern District of California.