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Samsung Settles Lawsuit Over DRAM Price-Fixing

Samsung Settles Lawsuit Over DRAM Price-Fixing

by , 3:45 PM EST, February 7th, 2007

Samsung has settled a DRAM price-fixing lawsuit that accused the company of colluding with other manufacturers to artificially limit DRAM supplies in the early part of this decade. The AP reported that New York Attorney General Andrew Cuomo announced late on Tuesday that Samsung had agreed to pay US$90 million dollars to settle the suit, which had been brought by New York, California, and Illinois.

Some $80 million of the settlement will go to consumers nationwide as compensation for higher computer prices relating to the DRAM supply constraints, while $10 million will be given to state and local governments. The settlement also included several private class-action suits.

"[This settlement] puts the DRAM antitrust matter behind us," Samsung spokesperson Chris Goodhart said in a statement. "Samsung is strongly committed to legal and ethical business practices and is moving forward with its aggressive compliance program."

The company sold DRAM at this time to Apple, as well as several PC makers, and the lawsuits were brought against Samsung and other DRAM manufacturers after U.S. Department of Justice investigated the industry and found evidence of price fixing. That investigation had already resulted on more than $730 million in fines, and jail sentences for several Samsung executives.

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