DRAM makers to pay $160m to settle civil suits
PrintSamsung, Hynix, Infineon, plaintiffs in accord
Posted in IT Channel, 11th May 2006 13:05 GMT
Free whitepaper – Straight Talk with Dell: Sending out an SaaS
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. ®
Free whitepaper – Straight Talk with Dell: Sending out an SaaS
The Register Agile Data Center Summit
Straight Talk with Dell: Sending out an SaaS
Seven ways to optimize VMware server virtualization
Automating the Acquisition Process with Enterprise Level CRM
Sign up, sign up for The Register IT security newsletter
Microsoft's Windows 7 price gamble - and why it's flawed
Managing Desktop Software for fun and profit
Intel's flash new SSDs hit by bugs