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US: Judge holds off approving battery antitrust settlements

 |  March 1, 2017

On Tuesday a federal judge held off approving settlements by LG Chem, Hitachi Maxell and NEC in an antitrust class action accusing them of rigging prices of lithium ion batteries, calling the information given to her “pretty sparse.”

Under the settlements, LG Chem agreed to pay $39 million, Hitachi Maxell $3.45 million and NEC $2.5 million to indirect purchasers in the United States who bought laptops, camcorders or power tools containing a cylindrical lithium ion battery or a replacement battery made by the defendants between Jan. 1, 2000 and May 31, 2011.

US District Judge Yvonne Gonzalez Rogers said at the Tuesday hearing that she hadn’t been given enough information on how many claimants there would be or how much they would get.

Full Content: Courthouse News

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