Facts

Direct and indirect purchasers of instant noodle soup filed a class action against defendants Nong Shim Co. Ltd., Nongshim America Inc., Ottogi Co. Ltd., Ottogi America Inc., and Samyang Foods Co. Ltd. in connection with instant noodle product. The soup products consisted of dried instant noodles paired with a seasoning packet and dehydrated vegetables, packaged in a bag (or pouch), cup, or bowl.

PLAINTIFFS' CONTENTIONS:
Defendants allegedly colluded to raise prices on the instant noodle soup product. The defendants' alleged conspiracy lasted from 2001 until 2008. The conspiracy, however, was not revealed until 2012 when the Korean Fair Trade Commission publicly issued an order and findings revealing the collusion to keep prices inflated. The Korean Fair Trade Commission also ordered the Korean defendants to pay $120 million in fines. Plaintiffs claimed that defendant's price-fixing conspiracy raised prices for the instant noodle soup product sold to plaintiffs.

Result

Defendant Samyang Foods Co. Ltd. reached a $500,000 settlement with indirect purchasers, and a $1 million settlement with direct purchasers.

Other Information

Direct and indirect purchasers have filed separate motions for class certification against Nongshim and Ottogi. FILING DATE: Sept. 5, 2013.