Magnetic Iron Oxide Antitrust & Price-Fixing

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This lawsuit is based on allegations that manufacturers, producers, and distributors of magnetic iron oxide ("MIO") violated federal antitrust laws by conspiring to fix, maintain, and stabilize the prices and to allocate the worldwide markets for MIO from 1991 to October 12, 2005. MIO is magnetic iron oxide used in the manufacture of magnetic products, including audiotape, videotape, and data storage tape.

On August 16, 2006, the United States District Court for the Northern District of California granted final approval of settlements with the ISK and Sakai defendants. The proceeds from those settlements were distributed to class members that submitted a valid claim form.

Plaintiffs, buyers of Magnetic Iron Oxide ("MIO"), have reached settlements with Toda Kogyo Corporation and Toda America, Inc. ("Toda"), and Titan Kogyo Kabushiki Kaisha ("Titan").

On August 8, 2008, the court granted preliminary approval to the Toda and Titan settlements and ordered notice to be distributed to all class members. If the court approves these settlements, this lawsuit will end. Follow this link for further information.