Electronic companies accused of price fixing
If you've purchased an electronic device with a disk drive within the last nine years or so, you may have some money coming to you.
A huge class action lawsuit accuses several large electronics companies of price fixing to keep the cost of their products unnecessarily high.
The suit claims major electronics fixed the price of optical disk drives and devices like CD and DVD-ROMs, BluRays, desktop and laptop computers, video game consoles and related devices.
The companies accused include Sony, NEC, LG, Hitachi, Toshiba, Samsung, Phillips, Panasonic and others.
Recently, LG and Hitachi agreed to settle, pay consumers $26 million and help the plaintiffs with their case against the remaining electronics companies.
The lawsuit describes how the defendants and co-conspirators allegedly violated the U.S. Anitrust laws by establishing a global cartel that set artificially high prices for, and restricted the supply of optical disk drives.
The defendants deny the plaintiffs allegations.
Anyone who purchased an optical disk drive or device between January 1, 2004 and December 31, 2011 is eligible for a refund.
You don't have to file a claim now. It may take some time for all of this to work itself out in court.
Attorneys say your refund will be based on the amount you paid for the drives and devices.
You should start making a list now of the purchases you made and track down credit card statements or receipts so you'll have them when you can make a claim in this case.