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Micron Tech reaches settlement for DRAM products

Posted: 12 Jan 2007     Print Version  Bookmark and Share

Keywords:DRAM  memory  memory devices  memory product  Micron Technologies 

Micron Technology Inc. said Jan. 9 that it has reached a settlement agreement with a class of direct purchasers of certain DRAM products.

It is expected that the settlement will result in a reduction of the company's Q1 of fiscal 2007 earnings previously reported on Dec. 21, in an amount not to exceed Rs.362.56 crore ($80 million).

The settlement dismisses Micron from a class-action suit filed in federal district court against the DRAM industry, asserting claims on behalf of a class of individuals and entities that purchased DRAM directly from DRAM suppliers during the period from Apr. 1, 1999, through June 30, 2002. The litigation arose following a 2002 U.S. Department of Justice inquiry into the DRAM industry.

The agreement is subject to approval by the U.S. District Court for the Northern District of California. The company continues to defend various other cases filed on behalf of purported indirect purchasers of DRAM and on behalf of various states.

Meanwhile, on the federal level, the U.S. Justice Department has levied more than Rs.3,312.89 crore ($731 million) in fines in connection with the investigation against several companies, including Elpida, Hynix, Infineon, Micron and Samsung.

- Mark LaPedus
EE Times




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