Samsung, Hynix And Micron Slapped With Class Action Suit Over DRAM Supply Collusion And value Gouging

referring to Price fixing in the DRAM market is nothing new unfortunately. As soon as January this year, a Chinese regulator accused Samsung other chip industrialists of artificially increasing prices to pad their margins. Today, however, Samsung and other DRAM industrialists are facing another legal fight in the U.S., and it comes courtesy of the law company Hagens Berman. According to Hagens Berman, the above trio of companies together command 96 % of the DRAM market currently. If the Hagens Berman name sounds familiar, it's because it was too the company responsible for securing the aforementioned $300 mn settlement versus Samsung and Hynix.

Class Action Lawsuit Filed versus Samsung, Micron and Hynix for Alleged DRAM value Fixing

A class action lawsuit has been filed versus Samsung, Micron and Hynix with law company Hagens Berman, accusing the memory industrialists of colluding on alleged DRAM value fixing. "Instead of playing with the rules, Samsung, Micron and Hynix selected to put consumers in a chokehold, wringing the market for further profit." Together, the trio of Samsung, Micron, and Hynix own 96% of the worldwide DRAM market, effectively maintaining full control over pricing structures. The class action lawsuit applies to anyone in the US who bought DRAM, or any device with DRAM, among July 1, 2016 and Feb. 1, 2018. Hagens Berman has Former for this having successfully achieved a $300 mn settlement for a similar action way back in 2006.

Class Action Suit Alleges Samsung, Micron And Hynix Colluded On DRAM Supply Causing value Inflation

as informed in The class actions suit is being filed on behalf of US consumers of smartphones and personal computing products during the years of 2016 and 2017. The 3 defendant DRAM industrialists collectively make up 96 % of the universal DRAM market share as of 2017, the value of that has jumped as much as 130 % during the period detailed in the class action. Reportedly, during the same time period, revenues from the discounds of DRAM at Samsung, Hynix and Micron further than doubled. "This isn't the premier time we've caught the DRAM industry in a scheme to squeeze further money out of consumers," Berman added. You could discover further about the suit and sign-up here at the Hagens Berman site.

collected by :Molly Tony