Samsung Settles DRAM Price Fixing Suit

Samsung and a US subsidiary have agreed to pay $90 million to settle charges that it colluded to keep the price of DRAM memory artificially high.

Money will be used to reimburse consumers as well as the legal costs of state and local governments nationwide. The action settles cases brought by 41 states, and several private class-action suits.

The company will be required to cooperate with prosecutors in cases involving others involved in the price-fixing scheme. Legal actions are still being pursued in federal court against Elpida, Infineon, Hynix, and Micron.

"This settlement is a major step in recovering the overcharges that Samsung and its co-conspirators illegally foisted on consumers and taxpayers," said New York Attorney General Andrew Cuomo.

It is alleged that the companies colluded between 1998 and 2002 to keep prices artificially high by sharing confidential information including what they would be charging at retail.

A federal case has already resulted in the convictions of several executives and fines of over three quarters of a billion dollars. Samsung had already plead guilty in the federal case back in 2005 and was fined $300 million. Infineon and Hynix have also settled, for $160 million and $185 million respectively.