(CN) - A federal judge granted preliminary approval to a proposed $66 million class action settlement on Friday between capacitor manufacturer Hitachi Chemical and class action members in an antitrust case.
The class action lawsuit, filed in the Northern District of California, alleged Hitachi Chemical and its subsidiaries worked with other competitors in order to inflate the price of capacitors, a component used in a variety of electronic products, in violation of U.S. antitrust laws.
Hitachi Chemical announced in December that they had reached a settlement agreement with the two different class action members, made up of various tech companies who directly purchased the capacitors and individuals who indirectly purchased them through various electronic devices.
U.S. District Judge James Donato wrote that the final approval hearing will take place on June 7.
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