We're a nation of tech addicts. That means we are relying on batteries more than ever. Right now there's a class action settlement involving lithium ion batteries used in all kinds of consumer devices. This resulted from a claim that three lithium-ion battery makers colluded to fix prices, meaning consumers and even some device manufacturers paid more than they should have for cylindrical lithium-ion batteries, and that consumers, in turn, paid more for the products containing them. Jimmy Rhoades met up with lawyer Stephanie Fierro to find out how to cash in.
1. How Much Money?
The settlement amount stands at $44.95 million and could possibly grow if other companies decide to join the settlement. How much money you're likely to get depends on how many people make and qualify for a claim, and how many devices were purchased by claimants. So while it's a sizable settlement that could result in a nice check, don't bet the farm on a huge windfall.
2. Which Devices?
The product categories are really broad. We're talking laptops, notebooks, tablets, mobile phones, tablets, digital audio players, cameras, camcorders and cordless power tools. It also includes replacement batteries for any of these products.
3. What Timeframe?
The products had to be purchased within a certain timeframe. We're talking more than a full decade, so it's a wide net. You need to have been a legal resident of the United States and made the relevant purchases between Jan. 1, 2000, through May 31, 2011. Also, you have to have made the purchase for yourself or a gift, not for resale.
4. How Do You Make a Claim?
The firm handling the case has set up a website for claimants. All you do is select the product categories in which you made purchases, then enter your contact information and you're done. It doesn't even require a proof of purchase at this stage. Remember that you are attesting under penalty of perjury that the claims you're making are accurate. So play nice! The claim period ends in November and payments are expected to begin as early as February 2018.
Did you buy a laptop, cordless power tool, camcorder, and/or other items since 2000? CLAIM YOUR CASH HERE!
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