Corp-Ethics.com - Report: Samsung settles price fixing case

Company	Samsung [Company Info]
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Date	Issue	Title
7th Feb 2007	Other Issue	Samsung settles price fixing case

Report

Samsung Electronics has agreed to pay $90m to settle legal action over microchip price-fixing allegations.

It must also co-operate in suits against other microchip manufacturers.

The South Korean company faced claims customers had been forced to overpay for equipment containing its dynamic random access memory (DRAM) chips.

The actions alleged that Samsung and other chip makers exchanged price and other information with each other for four years ending in 2002.

Individual customers, as well as state and local governments had brought the action.

The states are still pursuing claims against other companies including Elpida Memory, Infineon Technologies, Hynix Semiconductor and Micron Technology.

$80m of the settlement will go to consumers nationwide while $10m will be shared by states and local government.

The action by the individual states followed a federal case brought by the US government that led to a total of $730m in fines from four companies.

Other Reports on Samsung
Date	Issue	Company	Report
17th Apr 2008	Fraud Investigation	Samsung	Prosecutors charge Samsung chief
5th Apr 2008	Fraud Investigation	Samsung	Prosecutors question Samsung boss
22nd Mar 2006	Questionable Practice	Samsung	Samsung men 'admit' price fixing
7th Feb 2006	Positive Work	Samsung	Samsung to give $825m to charity

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