This matter is before the Court on Direct Purchaser Class’s Motion for an Order Authorizing Distribution of Settlement Funds (the “Motion”), MDL ECF No. 1968, in connection with the Class’s settlements with defendants Matsuo Electric Co., Ltd., Nippon Chemi-Con Corp., and United Chemi-Con, Inc. (collectively the “Settling Defendants”).
The Court has previously determined that the plan of allocation described in the Class’s Motion for Final Approval of Fifth Round Settlements is, in all respects fair, adequate, and reasonable.
The Court authorizes the distribution of all Round 5 Settlement funds to members of the Settlement Class that timely submitted valid claim forms on or before July 29, 2022 as well as those who submitted late claims but were otherwise eligible for payment (including claims for incorporated capacitors), as determined by the Claims Administrator, Rust Consulting, Inc.; and the Joseph Saveri Law Firm, LLP, Lead Class Counsel for Direct Purchaser Class, according to the audit standards described in the Motion and set forth in Paragraph 4 of the Declaration of Tiffaney Janowicz, dated August 24, 2023.
The Claims Administrator may deduct and pay its requested outstanding administration fees and expenses, and estimated future work in administering the settlement fund to completion, in the amount of $269,417.24 (including $49,941.00 toward anticipated costs of ongoing claims administration and disbursement of funds through 2026) and distribute the remainder to Settlement Class members that submitted valid claim forms that have passed the audit Master File No. 3:17-md-02801-JD Case No. 3:14-cv-03264-JD
The Court authorizes the pro rata distribution of all Round 5 Settlement funds to Settlement Class members who submitted claims based on valid purchases of capacitors, after making the payments as set forth in Paragraph 3 above.