The plaintiffs in a certified competition law class action regarding price-fixing of lithium-ion batteries moved for approval of settlements with the LG Chem and Toshiba defendants, as well as for approval of class counsel fees.
The court found the settlements, which provided approximately $5.1 million from LG Chem and $264,000 from Toshiba, to be fair, reasonable, and in the best interests of the class.
The court also approved class counsel's fee request of approximately $1.18 million, representing a 25% contingency fee, finding it reasonable given the risks undertaken and the results achieved.