Hynix to plead guilty to memory price fixing

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Justice Department's investigation into DRAM price fixing.

In December 2003, a former Micron sales manager pleaded guilty to obstructing justice in the department's investigation. The regional sales manager admitted he altered and concealed documents pertaining to competitors' pricing information.

The European Commission also began its investigation into DRAM price fixing in 2003.

Infineon pleaded guilty to participating in an international DRAM price-fixing conspiracy last September and agreed to pay a $160 million fine. That fine was among the largest that the Justice Department has issued in connection with a price fixing case.

Four Infineon executives later agreed to plead guilty to criminal charges in connection with the DRAM price-fixing case in December. They were ordered to serve time in jail and pay a fine of about $250,000 each.

In preparation for possible action by the Justice Department, some of the DRAM makers have been setting aside money in a reserve.

Samsung Electronics, for example, announced in December that it would put $100 million into a reserve to guard against possible losses from the department's antitrust investigation.

And earlier this month, Elpida Memory announced it would set aside nearly $17.8 million for potential liabilities stemming from the investigation.

The Justice Department has issued a total of approximately $346 million in fines between the Hynix and Infineon cases, the agency said.

Hynix's plea agreement still awaits approval from the district court in San Francisco.

Another prime example

of consumers getting screwed by price gouging and
the attorneys getting the rewards. Or in this case, the US Government. no wonder people cheat on their taxes.

well I don't cheat on my taxes...

Noooooo..., but I'll bet those that do would feel no remorse for lying to the armed robber who asks if that is all the money you have- just that fiver that's in your wallet?

...and about that "price fixing"... does anyone find it kind of amusing that the very folks who protect us from these greedy marketeers engage in a little price fixing of their own by "fixing" the price of the dollar itself?