Feeds

Feds allege Samsung, Hynix execs fixed DRAM prices

Hefty fines, jail terms if convicted

Intelligent flash storage arrays

Two Samsung executives and a senior Hynix employee have been formally charged with conspiring to fix DRAM prices worldwide between 1 April 2001 and 15 June 2002, US antitrust investigators with the Department of Justice announced yesterday.

The three defendants are charged with violating the US Sherman Act. If convicted, they could each face up to three years in prison and a $350,000 fine - more if they're found to have benefitted financially from their alleged actions.

The DoJ accused Il Ung Kim and Young Bae Rha - respectively VP of marketing, and VP of sales and market at Samsung's memory division at the time of the alleged price-fixing scheme - of working with others to rig the DRAM chip market. Gary Swanson, at the time a senior VP of memory sales and marketing at Hynix, is accused of the same crime. Swanson is a US citizen and resident, but Kim and Rha both reside in their native South Korea.

The DoJ claimed the three men discussed setting the price they and others would charge certain OEMs for DRAM chips and enforced that pricing. It also alleges they co-operated to rig a DRAM supply-contract auction run by Compaq on 29 November 2001. The indictment lists numerous other related charges, including being payed for their efforts and concealing what they're alleged to have done.

To date, the DoJ's DRAM cartel probe has seen charges filed against four companies - Hynix, Samsung, Infineon and Elpida - and 13 individuals. More than $731m in fines have resulted from the investigation - the second highest total obtained by the DoJ in a criminal antitrust investigation into a specific industry, it said. ®

Beginner's guide to SSL certificates

More from The Register

next story
PEAK APPLE: iOS 8 is least popular Cupertino mobile OS in all of HUMAN HISTORY
'Nerd release' finally staggers past 50 per cent adoption
Apple spent just ONE DOLLAR beefing up the latest iPad Air 2
New iPads look a lot like the old one. There's a reason for that
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Microsoft fitness bands slapped on wrists: All YOUR HEALTH DATA are BELONG TO US
Wearable will deliver 'actionable insights for healthier living'
Caterham Seven 160 review: The Raspberry Pi of motoring
Back to driving's basics with a joyously legal high
FTDI yanks chip-bricking driver from Windows Update, vows to fight on
Next driver to battle fake chips with 'non-invasive' methods
Amazon hopes FIRE STICK will light up its video service
We do streaming video? It seems we do...
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.