Thirty-three states, including California, Florida, Massachusetts, New York, Pennsylvania, and others, will receive $173 million from six DRAM makers to settle a suit accusing them of fixing prices for products between 1998 and 2002. Companies named in the suit include Micron, NEC, Infineon, Hynix, Elpida, and Mosel Vitelic.
"These companies conspired in an illegal global scheme to fix prices on chips used in computer equipment sold to consumers, schools, and government offices," California Attorney General Edmund 'Jerry' Brown Jr. said in a statement. "The large price tag of this settlement should serve as a warning that we will crack down on any manufacturers around the world that choose to gouge consumers through illegal price-fixing schemes."
It is yet to be determined how much each company will pay towards the $173 million collective settlement, which is to be doled out over the course of two years plus interest to the affected consumers, schools, and government offices.
"The settlement money is welcome, but the illegal overcharging never should have happened in the first place," Brown added. "Especially when times are tight, schools and government agencies can't afford to be ripped off by companies that violate our anti-trust laws to keep profits high."