DRAM Price-Fixing Class Action Settled at $310mm

Written by  Friday, 07 March 2014 15:58

dram-modulesIt wasn't long ago that we reported on the price-fixing scandal involving the liquid crystal component used in LCDs, where the LCD industry was bolstered to $71.9 B over a five year period. Price-fixing happens all the time -- constantly -- it's just a matter of who gets caught and if the legal system cares enough to give it any attention. In the case of major memory & Flash suppliers Samsung, Micron, Hynix, and several others (Elpida, Hitachi, Infineon, Mitsubishi, Mosel, Nanya, NEC, Toshiba, Winbond), they were caught and the evidence stacked against them.

A total of twelve companies have agreed to settle the suit at $310 million, bringing the class action that hauled 1998-2002 into the court to a close. The companies have done so begrudgingly, though, claiming that they haven't done anything wrong, but ensuring that "[employees] will not engage in the conduct that is at issue in these lawsuits [in the future]." We'll leave it up to you to read between those lines.

The $310mm has been split between Samsung at $113 million, Micron at $66.77 million, Hynix at ~$50 million, and the rest trailing. It is estimated that consumers will see about 2/3 of the total settlement. If you purchased DRAM modules or DRAM-equipped devices between 1998 and 2002 (consoles of the era, PCs), you can file a claim through the settlement website to receive your share of the settlement.

Claims are required by August 1 in order to be honored. 

- Steve "Lelldorianx" Burke.

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