Lithium-Ion Battery Class Gets $49 Million Settlement Approved

Samsung SDI Co., Toshiba Corp., Panasonic Corp., and Tokin Corp. will pay $49 million to settle a lawsuit by consumers and retailers accusing them of conspiring to fix lithium-ion battery prices.

Judge Yvonne Gonzalez Rogers of the Northern District of California approved the deal, under which Samsung will pay $39.5 million, Panasonic $5.5 million, and Toshiba and Tokin $2 million each. Any unclaimed money will go to the government, not back to the electronics makers.

The deal follows earlier settlements between the indirect purchasers and Sony Corp., LG Chem Ltd., and Hitachi Maxell Ltd. Such ...