In a proposed national class proceeding alleging a price‑fixing conspiracy in the market for DRAM semiconductor devices, the representative plaintiffs sought approval of four additional settlement agreements with certain defendants and approval of class counsel fees.
The court assessed whether the negotiated settlements were fair, reasonable, and in the best interests of the class under the Class Proceedings Act, 1992.
Although no finalized distribution protocol for settlement funds had yet been developed, the court concluded the settlements—totaling $23.325 million and including cooperation provisions—were reasonable given litigation risk and the benefit of cooperation against non‑settling defendants.
The court also scrutinized class counsel’s request for a 30% contingency fee of approximately $7.13 million.
Finding that percentage excessive at this stage of the proceedings, the court reduced the fee award to 20% of total settlements achieved to date and approved an interim fee of $4,180,345.59.
