Proposed settlement reached in class action against Samsung and Hynix for alleged unlawful price fixing of dynamic random access memory (DRAM)

OTTAWA, May 31, 2013 /CNW/ - The Plaintiffs in class actions filed in British Columbia, Ontario and Quebec claim that Samsung Electronics Co., Ltd., Samsung Semiconductor Inc., Samsung Electronics America, Inc. and Samsung Electronics Canada Inc. ("Samsung") and Hynix Semiconductor Inc., H...

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Bibliographic Details
Published inCanada NewsWire
Format Newsletter
LanguageEnglish
Published Ottawa PR Newswire Association LLC 31.05.2013
Subjects
Class action lawsuits
Electronics industry
Random access memory
State court decisions
OTTAWA, May 31, 2013
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Summary:OTTAWA, May 31, 2013 /CNW/ - The Plaintiffs in class actions filed in British Columbia, Ontario and Quebec claim that Samsung Electronics Co., Ltd., Samsung Semiconductor Inc., Samsung Electronics America, Inc. and Samsung Electronics Canada Inc. ("Samsung") and Hynix Semiconductor Inc., Hynix Semiconductor America Inc. and Hynix Semiconductor Manufacturing America, Inc. ("Hynix"), and numerous other DRAM manufacturers conspired to fix the prices for DRAM or products which contain DRAM in Canada. DRAM is a type of memory commonly used in computers and communication devices. Today the parties to the lawsuit announce settlements with the defendants Samsung and Hynix which are subject to court approval. Samsung will pay CAD $22,600,000 and Hynix will pay CAD $15,600,000 for the benefit of settlement class members and will each provide cooperation that will assist with prosecuting the ongoing actions against remaining defendants in exchange for a full release of claims against them and their related entities.