News

October 19, 2020

Firm Secures $3.5 Million Settlement in Price-Fixing Class Action

Warren Burns of Burns Charest served as lead class counsel in successful efforts resulting in a $3.5 million settlement on behalf of purchasers of promotional items, including silicone wristbands and pin buttons, from four national suppliers.

Gennex Media LLC, Custom Wristbands Inc., Zaappaaz Inc. and Netbrands Media Corp. each agreed to contribute to the settlement.

The agreement follows an investigation by the U.S. Department of Justice into the online promotional products industry. Federal prosecutors said the companies used social media and encrypted messaging apps in an unlawful effort to fix prices, leading to each company pleading guilty to those charges during the past three years.

“Given the financial condition of the defendants, we believe we have exacted the best possible settlement for our class and look forward to distributing funds to our class members,” the firm’s Warren Burns told Law360.

It is estimated that some 500,000 purchasers in the class will be able to submit claims for settlement funds.