The $310 million settlement fund in a federal class-action lawsuit regarding price fixing of dynamic random access memory (DRAM) is now open for people to submit claims, the settlement's administrators announced today.
The class-action suit, In Re: Dynamic Random Access Memory (DRAM) Antitrust Litigation, was consolidated from a number of lawsuits filed by attorneys general from various U.S. states against 12 manufacturers of DRAM. The companies in question — Elpida, Hitachi, Hynix, Infineon, Micron, Mitsubishi, Mosel, Nanya, NEC, Samsung, Toshiba and Winbond — were accused of artificially fixing the price for DRAM between 1998 and 2002, causing millions of Americans to pay too much for DRAM and for electronics containing DRAM.
DRAM is a common component in a wide range of computerized electronic devices, including MP3 players, video game consoles, computers, graphics cards, printers and DVD players. Purchasers are eligible to file a claim in the lawsuit if they bought DRAM or a DRAM-containing device in the U.S. between Jan. 1, 1998, and Dec. 31, 2002, as long as the purchase was not made directly from a DRAM manufacturer.
Individuals and businesses who file a claim at the settlement's website by Aug. 1, 2014, will be eligible to receive a minimum payment of $10, and potentially more than $1,000, depending on the volume of purchases of DRAM in question.
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