As seen in Reuters’ “Lawsuits Target Alleged Cartel in Capacitor Industry”
Reuters reports that a number of class actions have been brought against major companies that manufacture capacitors, accusing them of working together to inflate prices for almost ten years. The lawsuits, brought by both consumers and businesses, come at a time when government agencies in the US, Europe and China have announced that they are conducting their own cartel investigations into capacitor makers.
According to Kaye Scholer Antitrust Counsel Philip Giordano, a former prosecutor in the DOJ’s Antitrust Division, the similar timings of investigations and lawsuits “reflect the continuing trend of private plaintiffs filing actions in parallel with criminal antitrust proceedings.”
Giordano added that some plaintiffs in the US may have a hard time stating their case, because foreign manufacturers may claim they do not important their capacitors directly into the US.
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