Thursday, January 11, 2007
Micron announced today that it reached a settlement agreement with a class of direct purchasers of certain DRAM products.
Giving little detail, Micron said the settlement dismisses it from a class-action suit filed in federal district court against the DRAM industry asserting claims on behalf of a class of individuals and entities that purchased DRAM directly from DRAM suppliers between April 1, 1999, through June 30, 2002.
The litigation arose following a 2002 U.S. Department of Justice (DOJ) inquiry into the DRAM industry that eventually has uncovered illegal activity from a number of the industry's major players, including DRAM price fixing at Infineon, Samsung, Hynix and Elpida.
The settlement's effect upon the company's Q1 results will be provided in the company's Form 10-Q, which is expected to be filed with the U.S. Securities and Exchange Commission on Jan. 16. Meanwhile, Micron said it expects the settlement will result in a reduction of Q1 earnings by as much as $80 million.
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