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SOURCE The Notice Company
SAN FRANCISCO, Jan. 17, 2014 /PRNewswire/ -- The following release was issued today by The Notice Company, Inc.:
LEGAL NOTICE: If You Bought A Cathode Ray Tube Product, A Class Action Lawsuit and Settlement May Affect You. Cathode Ray Tube (CRT) Products include CRTs, Televisions, Computer Monitors, and other products containing CRTs.
On September 19, 2013, the US District Court for the Northern District of California (the "Court") certified plaintiff classes in 21 states and the District of Columbia, of individuals and businesses that indirectly purchased any CRT Product from the Defendant Companies or any co-conspirator (collectively "Defendants"), for their own use and not for resale, from March 1, 1995 through November 25, 2007 (the "Litigated Class"). The case is In Re Cathode Ray Tube (CRT) Antitrust Litigation, 07-cv-05944-SC. "Indirect" means that you did not buy the CRT Product directly from any of the Defendants.
A Settlement has been reached with LG Electronics, Inc.; LG Electronics USA, Inc.; and LG Electronics Taiwan Taipei Co., Ltd. ("LG"). On December 9, 2013, the Court preliminarily approved the LG Settlement and certified a nationwide (excluding Illinois, Oregon and Washington, which are bringing their own separate cases) settlement class of individuals and businesses that indirectly purchased any CRT Product from the Defendants, for their own use and not for resale, from March 1, 1995 through November 25, 2007 (the "Settlement Class"). The Court previously approved a settlement with defendants Chunghwa Picture Tubes Ltd. and Chunghwa Picture Tubes (Malaysia) Sdn Bhd.
The litigation is continuing against the remaining Defendants. The Settlement Agreement, the Class Certification Order, the Preliminary Approval Order and a complete list of the Defendants are set out in the Detailed Notice available at www.CRTsettlement.com.
What is this case about?
The lawsuit claims that numerous Defendants, including LG, conspired to fix, raise, maintain or stabilize prices of CRT Products resulting in overcharges to consumers who bought CRT Products such as televisions and computer monitors. The Defendants deny that they did anything wrong. The Court has not decided who is right.
What does the Settlement Provide?
The Settlement provides for the payment by LG of $25 million in cash, plus interest, to the Settlement Class. It also provides that LG will furnish information about the case, including other Defendants' involvement in the alleged conspiracy, to Class Counsel. Money will not be distributed to Settlement Class members yet. The lawyers will pursue the lawsuit against the other Defendants to see if any future settlements or judgments can be obtained in the case and then distribute the funds together to reduce expenses. It is possible that money will be distributed to organizations that are, as nearly as practicable, representative of the interests of indirect purchasers of CRT Products instead of Settlement Class members themselves if the cost to process claims would result in small payments to members of the Settlement Class.
Who Represents You?
The Court has appointed Mario N. Alioto of Trump, Alioto, Trump & Prescott LLP as "Class Counsel" to represent members of the Litigated Class and the Settlement Class. You do not have to pay these lawyers to represent you. You may hire your own attorney, if you wish, but if you do so you will be responsible for your own attorney's fees and expenses.
What are your Options?
If you wish to remain a member of the Litigated Class and the Settlement Class, you do not need to take any action at this time. You will be bound by the judgment of the Court regarding your claims and cannot present them in another lawsuit. If you don't want to be a member of the Litigated Class, or be legally bound by the Settlement, you must exclude yourself in writing by March 20, 2014. If you remain a Settlement Class member, you may object to the Settlement by March 20, 2014. The Detailed Notice, which you may review online at www.CRTsettlement.com, describes how to exclude yourself from the Litigated Class or the Settlement Class, or how to object to the Settlement. The Court will hold a Fairness Hearing at 10:00 a.m. on April 18, 2014, at 450 Golden Gate Ave., 17th Floor, Courtroom One, San Francisco, CA 94102. The hearing may be moved to a different date or time without additional notice, so it is a good idea to check www.CRTsettlement.com. At this hearing, the Court will consider whether the Settlement is fair, reasonable and adequate. The Court will also consider Class Counsel's request that $5 million from the Settlement Fund be set aside to pay for expenses incurred or to be incurred in prosecuting this case. Class Counsel are not asking for attorneys' fees at this time. At a future time, Class Counsel will ask the Court for attorneys' fees not to exceed one-third of this and any future settlements. If there are objections or comments to the fees requested, the Court will consider them at that time. You may appear at the hearing, but you don't have to. After the hearing, the Court will decide whether to approve the Settlement. We do not know how long these decisions will take. Please do not contact the Court about this case. Please retain any receipts or other evidence of purchase of any CRT Product. Before disposing of any CRT Product please see the Detailed Notice for recommendations on preserving proof of ownership.
For more details, call toll free 1-800-649-8153, visit www.CRTsettlement.com, or write to CRT Indirect Settlement, c/o The Notice Company, P.O. Box 778, Hingham, MA 02043. Para una notificacion en Espanol, visitar nuestro website.
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