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DRAM Makers Accused of Price Fixing
AdamWeeden writes "According to the EETimes, many of the states in the U.S. have entered into a class-action lawsuit against a group of eight DRAM manufacturers. The companies are accused of price-fixing computer memory for over five years, beginning in the late 1990s." From the article: "Four companies and 12 executives have so far pleaded guilty to participating in the conspiracy and have been assessed more than $730 million in fines. In May, three of the four companies, Samsung Electronics, Hynix Semiconductor Inc. and Infineon Technologies AG agreed to pay a total of $160 million to settle class action suits related to price fixing. Elpida Memory Inc., the fourth company to plead guilty, is still involved in the class-action suits."
The compensatory damages would not amount to very much.
The idea of punitive damages is to, well, punish the guilty. It does not matter, where the money goes — the consumers benefit from the companies' not doing it again.
In Soviet Washington the swamp drains you.
Firstly, summary says more than five years, secondly that it began in the 1990s, and thirdly, just because the suit is being brought in 2006 doesn't mean that's when the price-fixing ended.
Just because you're paranoid doesn't mean there isn't an invisible demon about to eat your face
If one of them does it all the others wills cream about selling under cost and sue the living hell out Hynix. Oops... Maybe a different one this time.
If all of them will do it that will be price fixing and collusion.
Lose, lose.
But if the DOJ forces them to do that... Hmm... That is an entirely different matter...
Baker's Law: Misery no longer loves company. Nowadays it insists on it
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