DRAM makers to pay $160m to settle civil suits
Print storySamsung, Hynix, Infineon, plaintiffs in accord
Posted in IT Channel, 11th May 2006 13:05 GMT
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Samsung, Hynix and Infineon have agreed to cough up $160m to a collection of small companies who sued the memory giants after the US Department of Justice launched a probe into DRAM price-fixing claims.
The three DRAMurai later admitted they had taken part in a cartel to control DRAM prices in the States between April 1999 and June 2002, and reached agreements with the DoJ to pay up hefty punitive fines. Elpida and Micron were also involved in the DoJ investigation.
In the San Francisco District Court yesterday, Judge Phyllis Hamilton said she would approve a deal reached between lawyers representing Samsung and Infineon, and the plaintiffs' advocates that would see the two memory companies pay out $67m and $20m, respectively, Bloomberg reports.
The parties will meet next week to discuss an agreed $73m pay-out from Hynix. Under the terms of the agreements, the three memory makers do not admit any wrongdoing.
The plaintiffs are also pursuing claims against Micron, Elpida and four other chip companies. ®
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