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A settlement has been reached in a class action lawsuit with many Lithium-Ion manufacturers. The lawsuit revolved around the sale of cylindrical lithium ion batteries and alleged that the manufacturers fixed the price of the battery cells. A final settlement has been reached with the manufacturers, and you could be eligible to receive part of the $44.95 million settlement.
Who Can Receive Compensation?
The criteria are wide-ranging — to be eligible for a share you must:
- Have been a United States resident from January 1, 2000, to May 31, 2011
In addition to the residency rule you must have purchased for use by yourself or your business (not for resale) one of the following products:
- Notebooks, laptop PCs, and netbooks
- Smartphones, tablets, mobile phones, cameras, and digital audio player
- Cordless power tools
- Replacement batteries for any of the above
How To Make A Claim?
Making a claim is simple and can be done online. To be valid, claims must meet the following criteria:
- Claims must be made online by 23:59 PT, November 29, 2017
- Mailed claim forms must be postmarked by November 29, 2017, to be valid
- Proof of purchase is not required
For those of you who want to reserve your rights to sue the defendants independently, you must exclude yourself from the claim. This must be done in writing by August 11, 2017. Currently, there is no specific payment date, although it is expected to be somewhere in Q1 of 2018. The amount of compensation you will receive depends on the total number of claims and how many claims each claimant makes.
If you're reading this in the US, you're likely to be eligible for this claim, since the probability that you bought one of the covered items in a ten-year period is high. While it is excellent to see companies penalized for price fixing, it is nevertheless a small amount to be distributed to all claimants. With no proof of purchase necessary with this settlement, we wouldn't expect to receive much.
Source: Doctor of Credit
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