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|7th Feb 2007||Other Issue||Samsung settles price fixing case|
|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.
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