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DRAM price fixing lawsuit with Oracle costs Micron $58m

Semiconductor firm gets off the hook
Fri Mar 30 2012, 10:54

MEMORY MAKER Micron announced today that it has reached an agreement to settle a lawsuit launched by Oracle in the US alleging DRAM price fixing.

The complaint filed in US District Court for the Northern District of California accused Micron of conspiring to increase DRAM prices and other violations of federal and state antitrust laws.

The legal action accused Micron of engaging in sharp practices for the period from August 1998 through "at least" June 2002. Oracle was seeking treble damages as well as restitution, disgorgement, attorneys' fees, costs and injunctive relief.

"Pursuant to the settlement agreement, the parties agreed to a settlement and release of all claims and a dismissal with prejudice of the litigation," Micron Technology said in a statement.

The company added that the effect of the settlement on its financial results of operations for the second fiscal quarter of 2012 will be a "reduction in revenue and an increase in the net loss" attributable to shareholders of $58m. As a result, for the second quarter of fiscal 2012, Micron said it estimated that net loss attributable to its shareholders was $282m.

The semiconductor firm added that the full effect of the legal settlement with Oracle on its finances will be provided in its upcoming SEC Form 10-Q filing. µ

 

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