$160M Settlement in DRAM Price Fixing Case

By on September 15, 2004

According to their press release, Infineon Technologies AG — a German computer memory manufacturer — has agreed to pay a $160 million fine after pleading guilty to the US Department of Justice on a single charge related to antitrust violations.

Under the terms of the agreement, Infineon has agreed to pay a fine of US-Dollar 160 million, an amount fully covered by the company’s recent third quarter accrual. The fine will be paid in equal installments through 2009. The wrongdoing charged by the DoJ was limited to certain OEM customers. Infineon is already been in contact with these customers and has achieved or is in the process of achieving settlements with all of these OEM customers.

This settlement gets Infineon off the hook permanently, but this is only part of a larger case the DOJ is still pursuing. More settlements are likely to come. I did a quick search at the DOJ website and came up with several other cases that have been prosecuted and settled or are still in process.

$160 million; they must’ve gouged a ton of money in order to make a settlement like that.

Infineon strongly condemns any attempt to fix or stabilize prices. Infineon is committed to vigorous and fair competition based solely on superior products and services.

I bet they say that to all the boys.

via Slashdot.