Samsung, Micron, and Hynix Accused of DRAM Price Fixing

Law firm Hagens Berman has filed a class action lawsuit against Samsung, Micron, and Hynix in the US District Court for the Northern District of California. According to the firm’s investigation, the three DRAM manufacturers conspired to limit the supply of DRAM chips between 2016 and 2017 with the purpose of inflating their prices. The firm affirmed that DRAM saw a 47 percent increase in price during 2017, which made it the largest jump ever in the last 30 years. As noted by the filing, Samsung, Micron and Hynix collectively own 96 percent of the worldwide DRAM market as of 2017. The “conduct changed abruptly” when the Chinese government launched an investigation to look into the matter. This class action is opened to consumers in the U.S. who’ve purchased a device that uses DRAM between July 1, 2016 and February 1, 2018.

“What we’ve uncovered in the DRAM market is a classic antitrust, price-fixing scheme in which a small number of kingpin corporations hold the lion’s share of the market,” stated Hagens Berman managing partner Steve Berman. “Instead of playing by the rules, Samsung, Micron and Hynix chose to put consumers in a chokehold, wringing the market for more profit.”

This isn’t Hagens Berman’s first time to the rodeo either. The firm had previously achieved a $300 million settlement for consumers who paid high prices for DRAM back in 2006. Samsung and Hynix pleaded guilty to the charges and paid a collective sum of $731 million in criminal fines, and both DRAM manufacturers served a collective 3,185 days of jail time. Source: AppleInsider https://www.techpowerup.com/rss/news