In a competition class proceeding alleging price‑fixing in the static random access memory (SRAM) industry, the plaintiff sought court approval of a national settlement reached with certain defendants and approval of interim class counsel fees.
The settlement required the settling defendants to pay $1.5 million for the benefit of settlement class members across Ontario, British Columbia, and Québec, and to provide cooperation in the ongoing litigation against remaining defendants.
The court applied established class action settlement approval principles, assessing fairness, reasonableness, and the best interests of the class.
Finding the settlement well‑investigated, negotiated at arm’s length, and beneficial to class members given the risks of continued litigation, the court approved the settlement and the requested class counsel fees.