In re Korean Ramen Noodles Indirect Antitrust Litigation

Plaintiffs brought suit against the manufacturers of Korean Ramen Noodle products and the U.S. subsidiaries on behalf of themselves and other consumers who purchased Korean Ramen Noodles in various states from 2000-2010.  Plaintiffs allege that the Defendants conspired to fix prices for the products in violation of state antitrust and consumer protection laws.  The case was filed in September of 2013, and the Court appointed IKR as Interim Lead Counsel for the class of persons that did not purchase products directly from the Defendants on December 16, 2013.  On November 4, 2014, the Court denied motions to dismiss by most of the Defendants, and litigation proceeded.  On November 10, 2015, the Court granted preliminary approval to a settlement with one of the Defendants, Samyang Foods, Co. Ltd.  On January 19, 2017, the Court granted motions to certify a class of direct purchaser plaintiffs and a class of indirect purchaser plaintiffs.    The case was tried before a jury in November and December of 2018, and the jury returned a verdict for Defendants.