Attention Scrap Copper Purchasers
TO ALL PERSONS WHO PURCHASED "SCRAP COPPER" FOR BUSINESS USE OR RESALE BETWEEN JANUARY 1, 1993 AND JULY 1, 1996. YOUR RIGHTS MAY BE AFFECTED BY A PROPOSED SETTLEMENT DESCRIBED BELOW.
There is pending a class action in the Superior Court in San Diego, California (National Metals v. Sumitomo, et al., Case No. GIC734001), alleging that during the class period Sumitomo Corporation ("Sumitomo") colluded to artificially inflate prices of scrap copper. Sumitomo denies the allegation. Sumitomo has agreed to settle the claims of the class for $10.75 million. A hearing on final approval of the proposed settlement is set for December 20, 2001.
IF YOU ARE A MEMBER OF THE CLASS, YOU CAN SHARE IN THE SETTLEMENT, PROVIDED YOU SUBMIT A TIMELY AND VALID PROOF OF CLAIM. IF THE SETTLEMENT IS APPROVED, YOU WILL BE BOUND BY THE TERMS OF THE SETTLEMENT UNLESS YOU EXCLUDE YOURSELF FROM THE CLASS.
"Scrap Copper" may include: (i) any scrap containing copper, waste containing copper, or excess material containing copper generated during the smelting, refining fabrication or manufacture of a copper product, brass or products containing brass ("Brass"), bronze or products containing bronze ("Bronze"), or any alloy with a copper content of 50% or more by weight or products containing such an alloy ("Alloy"); and (ii) any copper product, Brass, Bronze or Alloy, air conditioners, transformers, electrical generators, electrical motors, motor vehicle radiators and any other product consisting of a copper content of 50% or more by weight, acquired after it has been in the possession of an end-user or consumer or that is otherwise considered post-consumer material.
Definitions of scrap copper, the settlement class, and the included states covered by the settlement, the address of the Court, all relevant dates and detailed information about the proposed settlement, and how to make a claim, are available as follows:
by calling (800) 925-2505
or by writing to: Scrap Copper,
c/o Gilardi & Co., LLC,
P.O. Box 1110,
Corte Madera, CA 94976-1110.
Also in this Issue:
- Copper for Faster Chips
- Promoting Efficient Motors
- Copper Protects Costly Gear
- Copper Building Materials Seen by Millions
- Attention Scrap Copper Purchasers
- Bronze Spiders Makes Manhattan Appearance
- Copper is Cool for Motors