What is the Settlement for Optical Disk Drives in Canada?

Optical Disk Drive Settlement Canada: Manufacturers and Distributors Pay $29.7 Million

Optical disk drive manufacturers and distributors in Canada have agreed to pay a settlement of $29.7 million. The settlement comes after class action lawsuits were commenced in British Columbia, Ontario, and Quebec alleging price fixing of optical disk drives (ODDs).

The alleged price fixing was said to have been a conspiracy among ODD manufacturers and distributors to raise prices. The claims period for this settlement is now closed, and the court has directed the Settlement Administrator to disburse the award payments.

Summary of Optical Disk Drive Settlement Canada

The Class Action Lawsuits

The class action lawsuits, which started in British Columbia, Ontario, and Quebec, claimed that numerous ODD manufacturers and distributors conspired to fix the prices for ODDs. This, in turn, led to increased prices for both ODDs and ODD products sold in Canada.

These lawsuits were launched after evidence suggested that defendants illegally conspired to fix the prices of ODDs.

The Settlement

The optical disk drive settlement Canada involves several manufacturers and distributors who have agreed to pay a sum of $29.7 million. This amount is meant to compensate for the alleged price fixing of optical disk drives.

The BC and Quebec courts have approved a protocol for distributing the settlement funds to class members.

Claims Period

The claims period for this settlement has already come to an end. Class members had a specific period during which they could submit claims to be part of the settlement.

The district court overseeing the case has instructed the Settlement Administrator to disburse the award payments to those who submitted claims.

Implications for Consumers

For consumers, this settlement represents a victory against price manipulation. The optical disk drive settlement Canada could also serve as a deterrent for other companies that might engage in similar practices.

This means more fair pricing for consumers and a more competitive market for optical disk drives.

What’s Next?

With the claims period closed, the next step is the disbursement of funds. Class members who submitted claims can expect to receive compensation as ordered by the court.

The settlement brings closure to a lengthy legal battle, and it's expected to have long-lasting implications on the market.

Frequently Asked Questions (FAQs)

Q: What is the optical disk drive settlement Canada about?
A: The settlement is about a $29.7 million payment by optical disk drive manufacturers and distributors in Canada, who were accused of conspiring to fix the prices of optical disk drives.

Q: How much is the settlement amount?
A: The settlement amount is $29.7 million.

Q: Is the claims period still open?
A: No, the claims period is now closed.

Q: What will happen now that the settlement has been reached?
A: The court has ordered the Settlement Administrator to disburse the award payments to class members who submitted claims.