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Came in the mail today, notice of a class action against NEC Tokin, Okaya Electric, etc you may get $$$ because of price fixing.
Those zany Nipponese!
In part, it says:
" LEGAL NOTICE
If You Bought an Electrolytic or Film Capacitor Directly From Certain Distributors Since 2002 You Could Get Money From Settlements Totaling Approximately $15 Million "
$15 million? That's about a dozen V-caps, isn't it?
And if this settlement is 10% and you get 5% of that maybe you get a buck or 2? They, the guys that sent out this notice, even if they are legit, probably make more money from selling your info to mailing lists. And there is certainly, small print allowing them to do so with your permission.
...which caps got me included in this, or how much I spent on them. I'm going to assume it was caps I purchased from Mouser, Digi-Key, or Allied, sometime after 2002.
I don't plan on doing anything. I'm a hobbyist, and even if the suit is legit, I'd be in it for about 11¢
I got $20 on a memory price-fixing class action two years ago. No proof required, you just self-certified that you bought RAM during the time in question.
There was another option where you could submit receipts and get more money.
So I wouldn't dismiss this lightly. Might result in a bit, but a decent bit, of cash.
With other companies. I think one was about the airbags in my car. One from long ago was about Enron. I don't think i saw any money from either of those, and i am not sure if they even have been settled.
They could be riding on the legitimate lawsuit. You know surfing the same wave but looking to drop in on you and scam some info or just sell your name to other internet sellers.
But as kitch29 pondered, a Phishing scam via a postcard in the U.S. mail would be pretty old-school. I like to err on the side of caution though, so I appreciate your take on this.
They already have my name and address, and are somehow aware that I've purchased capacitors, which is why I'm assuming they got that information from Mouser, Digi-Key, or Allied sales records, since I've bought caps from all three sources over the years.
The postcard goes on to read, " Even if you do nothing, you will be bound by the Court's decisions concerning these Settlements. ", and that's what I plan to do, nothing.
I also don't expect to see a dime from it, if it is a legitimate lawsuit. I posted my "Yeah, I got one too" post because I thought it was interesting, and to let kitch29 know that he wasn't the only one.
Buy Chinese. Bury freedom.
Fixing cap prices, this must be worth $billions$$. Considering the current state of corporate malfeasance and the comparatively small scam this could possibly be; I think the real scam is why they are being prosecuted to begin with.
You think the market is you and six of your chums?
The electrolytic market alone for 2014 is over 6 Billion dollars.
I wonder how much a little price fixing compares to the monopoly/oligopoly issues the FTC turned a blind eye. Of course that would require going up against the real power machine. Money makes the world go around the world go around. All together now sing it out!!!
Enjoy the ride
...that doesn't mean all solicitations which mention it are.
Nobody on this forum is going to see a penny for the purchase of a few caps.
Now if you are Samsung and buy several million per month, you might see some cash rebates.
What meager compensation is left for the hobbiyist market will be absorbed by the smaller distributors before we ever see it.
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