Zelle Hofmann Announces Summary Notice of Pendency of SRAM Class Action Settlement and Settlement Fairness HearingJune 11, 2010
If you purchased Static Random Access Memory (SRAM) between November 1, 1996 to December 31, 2006, class action lawsuits and settlements may affect you. SRAM is used in many computers, smart phones, PDAs and other electronic devices.
A federal court certified a nationwide injunctive relief class and 27 state plaintiff classes (the “State Classes”) of individuals and companies that purchased Static Random Access Memory (SRAM) indirectly from one or more Defendants, for their own use and not for resale (the “Litigated Classes”). The court also certified a nationwide settlement class of individuals and companies that purchased SRAM indirectly from one or more Defendants (the “Settlement Class”). Defendants are corporations that indirectly sold SRAM to customers in the United States. For a full list of the 27 states and the defendants, visit the website below. The case is In Re Static Random Access Memory (SRAM) Antitrust Litigation, 07-cv-01819-CW in the U.S. District Court for the Northern District of California.
What is the Class Action About?
Plaintiffs claim that the Defendants conspired to fix, raise, maintain or stabilize prices of SRAM in violation of antitrust, unfair competition and unjust enrichment laws, resulting in overcharges to customers who indirectly purchased SRAM. Defendants deny that they did anything wrong. The court has not yet decided who is right. Defendants Hynix, Micron, NEC, Mitsubishi, Renesas, Toshiba and Etron (the “Settling Defendants”) have agreed to settle with Plaintiffs; they continue to deny liability, but settled to avoid litigation expense and risk. The lawsuit continues to be litigated against non-settling Defendants Samsung and Cypress (the “Non-Settling Defendants”).
You are a member of a Litigated Class if you indirectly purchased in the United States SRAM or products containing SRAM from one of the Defendants during the period November 1, 1996 through December 31, 2006 (the “Class Period”) for your own use and not for resale. You are a member of the Settlement Class and could get benefits if you indirectly purchased SRAM from one of the Defendants in the United States during the Class Period—regardless of whether or not you purchased it for your own use or for resale.
SRAM is a memory part or module that is sold by itself or as a part in electronic devices. “Products containing SRAM” as used in the Litigated Classes include desktop computers, servers, mainframes, personal digital assistants (PDAs), smartphones, routers, switches, modems, storage area networks, firewalls and voice-over-internet protocol (VOIP) systems.
What Do the Settlements Provide?
The Settling Defendants have agreed to pay a total of $25,422,000. Copies of the Settlement Agreements are available at the website below.
Money will not be distributed to Class Members yet. The lawyers will pursue the lawsuit against the Non-Settling Defendants, to see if any future settlements or judgments can be obtained in the case and then distribute the funds together to reduce expenses. It is possible that money will be distributed to charities who are, as nearly practicable, representative of the interests of indirect purchasers of SRAM, instead of Class Members themselves if the cost to process claims will result in small payments to Class Members. When the case is resolved with the Non-Settling Defendants, Class Counsel will request attorney’s fees in an amount not to exceed one-third of the total settlement funds plus reimbursement of their costs and expenses, and may request incentive payments for the court-appointed class representatives.
Who Represents You?
The Court has appointed Zelle Hofmann Voelbel & Mason LLP as Class Counsel. You do not have to pay these lawyers to represent you. You may hire your own attorney, if you wish; however, you will be responsible for your own attorney’s fees and expenses
What Are Your Options?
If you wish to remain a class member, you need not take any action at this time. You will be bound by the judgment of the Court regarding your claims and cannot present them in another lawsuit.
If you do not want to be a part of any class or legally bound by the settlements, you must exclude yourself from the classes. To exclude yourself from the State Classes and/or the Settlement Class, you must do so in writing, postmarked no later than August 17, 2010.
The Court has scheduled a Fairness Hearing for September 30, 2010 at 2 p.m. and will consider whether to approve the proposed settlements. This date may change. Check the website below for updates.
You may object to or comment on any part of the proposed settlements. Your objection/comment must be filed with the Court by August 17, 2010. You may also request in writing to speak at the Final Approval Hearing.
For more information, you may:
1) write to SRAM Indirect Litigation, P.O. Box 8090, San Rafael, CA 94912-8090
2) call the toll free phone number below, or
3) visit the website below.