Electronics Giants To Pay $49M To Settle Battery Antitrust Suit

Law360, New York (March 20, 2017, 4:45 PM EDT) -- Panasonic, Toshiba, Hitachi Maxell and NEC have agreed to pay $50 million to settle litigation by direct purchasers of lithium-ion batteries alleging the companies colluded with other electronics manufacturers to fix battery prices for more than a decade, according to documents filed in a California federal court Friday.

The settlements add to the $19 million deal that Sony Corp. inked with the direct buyers to settle the claims last February, bringing the total recovered by the group to nearly $69 million. The new settlements unveiled Friday...
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