Samsung

A class action lawsuit was filed against Samsung, the world's biggest memory chipmaker, and four other major manufacturers of DRAM chips including Elpida, Hynix, Infineon, and Micron. The lawsuit accused the defendants of reaching secret agreements to inflate the prices of memory chips. The lawsuit began in July 2006 and was a result of a justice department investigation that began in 2002, making this one of the largest price fixing lawsuits on record. The settlement reached involved Samsung paying $90 million to settle the price fixing lawsuit brought by 41 US states. So far, $730 million in fines and guilty pleas have been paid by Samsung, Elpida, Hynix, and Infineon. Micron admitted taking part but avoided federal criminal charges through its co-operation with the authorities. Five Samsung executives have also pleaded guilty in the US to price fixing and have agreed to each pay $250,000 fines and serve prison time. (Feb-07-07) [MSNBC: SAMSUNG SETTLEMENT]