LCD CANADIAN PRICE-FIXING CLASS ACTION FAQ

Transcription

1 LCD CANADIAN PRICE-FIXING CLASS ACTION FAQ 1. What is a class action lawsuit? What are the class action lawsuits about? What are LCD Panels? What are LCD Products? What settlements have been achieved in this class action lawsuit? Am I eligible to receive money? Are there any exceptions to who is eligible to receive money? How much money will I receive? How do I file a claim? What information do I need to provide with my claim? What will it cost to file a claim? What if I do not have proof of purchase? What happens after I file a claim? When will I get paid? Who are the lawyers representing the Settlement Class (Class Counsel)? What is the status of the ongoing class actions? What if I still have questions? What is a class action lawsuit? In a class action lawsuit, one or more people called representative plaintiffs sue on behalf of other people who are similarly situated. This group of people together is referred to as the class or class members. One court decides all the issues in the lawsuit for all class members, except for those who exclude themselves from the class. 2. What are the class action lawsuits about? A number of class action lawsuits were started across Canada alleging that the defendants conspired to fix prices in the market for LCD Panels and Products. The following entities were named as defendants in some or all of the LCD Proceedings: LG Display Co., Ltd., LG Display America, Inc., Samsung Electronics Co. Ltd., Samsung Electronics Canada Inc., Hitachi Ltd., Hitachi Displays, Ltd., Hitachi Canada, Ltd., Hitachi America Ltd., Hitachi Electronics Devices (USA) Inc., Sharp Corporation, Sharp Electronics Corporation, Sharp Electronics of Canada Ltd., Toshiba Corporation, Toshiba Matsushita Display Technology Co., Ltd., Toshiba America Corporation, Toshiba of Canada Limited, AU Optronics Corp., AU Optronics Corporation America,

2 Chi Mei Optoelectronics Corporation, Chi Mei Corporation, Chi Mei Optoelectronics USA, Inc, Chi Mei Optoelectronics Japan Co., Ltd., Nexgen Mediatech, Inc., and Nexgen Mediatech, HannStar Display Corporation, Chunghwa Picture Tubes, Ltd., and Epson Imaging Devices Corporation (formerly known as Sanyo Epson Imaging Devices Corporation). 3. What are LCD Panels? LCD Panels means liquid crystal display panels that are 10 inches or larger, measured diagonally. LCD Panels are the display devices used in, among other things, televisions, computer monitors and notebook computers. 4. What are LCD Products? LCD Products means televisions, computer monitors and laptops containing LCD Panels. LCD Panels are used in every flat-panel computer monitor and every laptop. A flat-panel television can contain either an LCD Panel or a plasma panel. You can confirm that your television is equipped with an LCD Panel by referring to your television's manual or proof of purchase. You can also confirm that your television is equipped with an LCD Panel by referring to your television's model number typically found at the back of a television. Once you have determined the model number, you can search the internet to determine if your television uses an LCD Panel or plasma panel. 5. What settlements have been achieved in this class action lawsuit? Settlements have been reached with the following defendants, totaling $37,623,000. Under the terms of those settlements, the following amounts have been paid in exchange for a release of claims against the settled defendants and their related entities: Chunghwa Picture Tubes, Ltd. - $2,023,000 Epson Imaging Devices Corporation (formerly known as Sanyo Epson Imaging Devices Corporation) - $1,200,000 Samsung Electronics Co. Ltd. and Samsung Electronics Canada Inc. - $21,250,000 Innolux Corporation (successor to Chi Mei Optoelectronics Corporation) - $10,000,000 Japan Display Inc. (successor to Hitachi Displays, Ltd.) ( JDI ) on its behalf and on behalf of Hitachi Ltd., Hitachi Canada, Ltd., Hitachi America Ltd., Hitachi Electronics Devices (USA) Inc. - $3,150,000 The settlements represent a resolution of disputed claims. The settled defendants do not admit any wrongdoing or liability. The litigation is continuing against five groups of defendants.

3 The aggregate settlement funds, plus interest and less court approved legal fees, disbursements, administration expenses, and applicable taxes (the Net Settlement Amount ), are available for compensation to Settlement Class Members. The Net Settlement Amount is more than $25 million. 6. Am I eligible to receive money? This class action is for all persons in Canada who purchased LCD (liquid crystal display) panels (10 or larger measured diagonally) ( LCD Panels ) and/or televisions, computer monitors or laptop computers containing LCD panels ( LCD Products ) between January 1, 1998 and December 11, 2006 (the settlement class or settlement class members ). Although settlements have only been reached with certain defendants, settlement class members can claim with respect to all LCD Panels and LCD Products purchases, regardless of the manufacturer or brand. 7. Are there any exceptions to who is eligible to receive money? You cannot submit a claim if you are a Defendant, a related entity of a Defendant, or an employee, officer or director of a Defendant, or you validly and timely opted-out (excluded yourself from) the class action. 8. How much money will I receive? How much money you will receive depends on the number and value of valid claims filed. Therefore, until all claims are processed, an exact number cannot be provided. It is expected that a minimum payment of $25 will be made to all Settlement Class Members who submit a valid claim, but this will depend on the number and value of claims filed. Settlement benefits will be calculated based on the value of your claim in relation to the aggregate value of all valid claims. For example, if the value of your claim is $100 and the aggregate value of all valid claims is $10,000, you would be entitled to 1% ($100/$10,000) of the Net Settlement Funds. For the purpose of this calculation, the value of your claim is based on three factors: the value of the LCD Products purchased; the type of LCD Products purchased; and where the LCD Product purchase occurred within the distribution chain. (1) Value of the LCD Products purchased. The value of the purchase is the purchase price paid for the LCD Products, less any discounts, rebates, shipping charges, taxes, etc. If you are unable to provide documentation to establish the value of your LCD purchase, your LCD purchase will be valued as follows: LCD televisions - $1,500

4 LCD monitors - $700 LCD notebook computers - $2,250 (2) The type of LCD Product purchased. For the purposes of calculating the value of the claim, it is necessary to consider the relative value of the LCD Panel in relation to the total value of the LCD Product. The following values will be applied: LCD Panels - 100% of the purchase price LCD televisions - 40% of the purchase price LCD monitors - 80% of the purchase price LCD notebook computers - 15% of the purchase price (3) Where the LCD Product purchase occurred within the distribution chain. For the purposes of calculating the value of the claim, it is necessary to consider where the purchase occurred within the distribution chain. This accounts for the fact that the alleged unlawful overcharge must be allocated as between the different levels of purchasers within the distribution chain. There are four categories of purchasers. Settlement class members might fall within one category of purchasers for some LCD Product purchases and another category for other LCD Product purchases: Direct Purchaser End User means a Settlement Class Member in respect of purchases of LCD Products for its own use and not for commercial resale direct from a Defendant or an entity related to a Defendant or where the purchase price of the LCD Products was negotiated directly with a Defendant or an entity related to a Defendant. The claim value will be based on 100% of eligible LCD Product purchases. Indirect Purchaser End User means a Settlement Class Member in respect of purchases of LCD Products for its own use and not for commercial resale, other than a Direct Purchaser End User. The claim value will be based on 80% of eligible LCD Product purchases. Direct Purchaser Reseller means a Settlement Class Member in respect of purchases of LCD Large Screen Products for commercial resale direct from a Defendant or an entity related to a Defendant or where the purchase price of the LCD Large Screen Product was negotiated directly with a Defendant or an entity related to a Defendant. The claim value will be based on 25% of eligible LCD Product purchases. Indirect Purchaser Reseller means a Settlement Class Member in respect of purchases of LCD Large Screen Products for commercial resale, other than a Direct Purchaser Reseller. The claim value will be based on 15% of eligible LCD Product purchases. By way of example, if you purchased an LCD television for your own use from an entity other than a Defendant valued at $2,000, the claim value for the purposes of determining your share of the Net Settlement Amount would be calculated as follows:

5 $2,000 (the value of the LCD Product purchased) x.40 (the type of LCD Product purchased) x.80 (where the LCD Product purchase occurred within the distribution chain) = $640. This does not mean that a payment in the amount of $640 will be issued, but rather that the claim value for the purposes of determining your share of the Net Settlement Amount will be $640. Assuming that the aggregate value of all valid claims is $10,000, you would be entitled to 6.4% ($640/$10,000) of the Net Settlement Funds. If the distribution would result in eligible Settlement Class Members receiving an amount that is beyond any reasonable estimate of damages or less than $25, Class Counsel will seek further directions from the Courts with respect to the distribution of the settlement funds. Payments to Quebec Settlement Class Members are subject to deductions payable to the Fonds d aide aux recours collectives, calculated in accordance with the governing regulations. 9. How do I file a claim? A notice will be published in fall 2014 regarding the process and deadline for applying to receive settlement funds. To ensure that you receive this notice, please send your contact information to lcdclassaction@siskinds.com. 10. What information do I need to provide with my claim? As part of the claims process, Settlement Class Members are required to establish their LCD Product purchases. Where possible, Settlement Class Members will be able to rely on the Defendants sales records to establish their purchases. The Administrator will mail a letter, pre-populated with transactional sales data, to each Settlement Class Member for whom one or more of the Defendants provided records. The letter will contain a PIN and Claim ID that will allow the Settlement Class Member to complete an online claim form. Where a Settlement Class Member did not purchase directly from a Defendant or sales data is not available, the Settlement Class Member can provide other documentary proof of purchase. The requirements for documentary proof of purchase are quite flexible and can include any form of documentation establishing the LCD Product purchase. Examples of documentary proof of purchase include: invoices, receipts, historical accounting records, a product registration document, a warranty document, serial number, etc. Please see page 9 of the distribution protocol for more examples of what can be provided as documentary proof of purchase. Recognizing that some Settlement Class Members will not have retained proof of purchase, Settlement Class Members can file claims in respect of LCD Product purchases that are not supported by documentary proof of purchase. In such circumstances, Settlement Class Members can claim up to two LCD Product purchases per household.

6 11. What will it cost to file a claim? There are no fees to file a claim. Class Counsel fees and disbursements were approved by the court and have already been paid out of the settlement funds 12. What if I do not have proof of purchase? Recognizing that some Settlement Class Members will not have retained proof of purchase, Settlement Class Members can file claims in respect of LCD Product purchases that are not supported by documentary proof of purchase. In such circumstances, Settlement Class Members can claim up to two LCD Product purchases per household. Where the claim is filed without proof of purchase or the proof of purchase does not disclose the value of the LCD Product purchases, the LCD Products will be valued as follows: LCD televisions - $1,500 LCD monitors - $700 LCD notebook computers - $2, What happens after I file a claim? The courts have appointed NPT RicePoint Class Action Services ( Claims Administrator, an independent third-party) to receive and review claims, make determinations in respect of entitlement to direct payment of settlement benefits, and issue payments to eligible Settlement Class Members. Once all claims are received and processed, decision notices will be sent to all Settlement Class Members who file claims using the contact information provided in the claim form. If you change addresses prior to receiving a decision notice, it is your responsibility to advise the Claims Administrator. Accurate claims processing claims takes a significant amount of time. Your patience is appreciated. 14. When will I get paid? In class actions, payment typically occurs 6 to 12 months after the claims deadline. It is expected that the claims deadline will be late 2014 or early Who are the lawyers representing the Settlement Class (Class Counsel)? The law firm of Siskinds LLP represents Settlement Class Members in Ontario, and in provinces other than British Columbia or Quebec, as well as corporations of more than 50 employees in Quebec. Siskinds LLP can be reached at: Telephone (toll free): ext lcdclassaction@siskinds.com Mail: 680 Waterloo Street, London, ON N6A 3V8 Attention: Charles Wright

7 The law firm of Camp Fiorante Matthews Mogerman represents Settlement Class Members in British Columbia. British Columbia Class Counsel can be reached at: Telephone: Mail: # Homer Street, Vancouver, BC V6B 2W5 Attention: Reidar Mogerman The law firm of Siskinds Desmeules s.e.n.c.r.l. represents individuals and corporations of 50 or less employees who are Settlement Class Members in Quebec. Quebec Class Counsel can be reached at: Telephone: Mail: Les promenades du Vieux-Quebec, 43 rue De Buade, bureau 320, Quebec City, QC G1R 4A2 Attention: Me Simon Hébert. 16. What is the status of the ongoing class actions? Litigation is continuing against five groups of defendants: LG Philips LCD Co., Ltd., LG Philips LCD America, Inc. Sharp Corporation, Sharp Electronics Corporation, Sharp Electronics of Canada Ltd. Toshiba Corporation, Toshiba Matsushita Display Technology Co., Ltd., Toshiba America Corporation, Toshiba of Canada Limited AU Optronics Corporation America, AU Optronics Corporation Hannstar Display Corporation. On May 26, 2011, Justice Tausendfreund certified the action as a class proceeding on behalf of all persons in Canada (excluding defendants and their respective parents, employees, subsidiaries, affiliates, officers and directors) who purchased LCD Panels and/or LCD Products directly from a defendant or any entity affiliated with a defendant, a named Original Equipment Manufacturer or a named Distributor in Canada between January 1, 1998 and December 11, The defendants were granted leave to appeal the certification decision. The appeal will likely be heard in November The Plaintiff has brought a motion to amend the class definition to include all purchasers of LCD Panels and/or LCD Products. That motion was heard in April 2014, but was reserved pending the outcome of the certification appeal. Settlement class members who file a claim will be able to rely on that filing in respect of any subsequent settlement, if they wish. 17. What if I still have questions? Any further questions should be sent by to lcdclassaction@siskinds.com.