Feeds

Samsung admits it rigged DRAM prices

Will pay $300m fine

Application security programs and practises

Samsung yesterday pleaded guilty to conspiring with other memory makers to fix prices.

The plea was merely a formality - the South Korean giant coughed to the charge back in October. Then, it agreed to pay $300m to settle the case brought against it by the US Department of Justice.

In November 2001, Samsung described allegations that it and other memory makers had secretly agreed to fix DRAM prices between 1 July 1999 and 14 June 2002 as "total nonsense".

The comment was made after the DoJ began to investigate such claims. That three-year probe notched up is first victim in September 2004: Germany's Infineon admitted its culpability and agreed to pay $160m. Two months later, Micron said some of its employees had been involved, and that it was co-operating with the DoJ to avoid "prosecution, fines or other penalties".

In December 2004, just after four Infineon executives were jailed for their part in the scam, Samsung said it was putting aside $100m to help cover any fine it might be forced to pay by the DoJ.

Hynix made the same move in March 2005 - just as well, as it was fined $185m by the DoJ less than a month later. ®

The Power of One Infographic

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.