In a national class action alleging price fixing in the Static Random Access Memory (SRAM) market, the representative plaintiff sought approval of multiple settlement agreements with several defendant manufacturers under the Class Proceedings Act, 1992.
The proposed settlements totalled $3,050,000 and followed earlier settlements with other defendants.
The court considered whether the agreements were fair, reasonable, and in the best interests of the class, and reviewed the proposed distribution protocol, administration protocol, claims administrator appointment, class counsel fees, and representative plaintiff honorarium.
The court approved the settlements, associated distribution and administration plans, class counsel fees and disbursements, and dismissed the remaining claim against the final defendant.
The court accepted the settlements as falling within the zone of reasonableness and consistent with the interests of the class.