DRAM Price Fixing Case Reaches $310 Million SettlementCategory: General News
Posted: March 7, 2014 07:39PM
If you happened to purchase a computer or other product that used DRAM around the start of the 21st century, you may soon be getting a little bit of cash. More than a dozen DRAM manufacturers (including Samsung, Toshiba, Hynix, and Hitachi) have reached a settlement in a class-action and attorneys general lawsuit that alleged price fixing between the companies. The settlement is for $310 million, with about $200 million of that reserved for affected customers and businesses. Claims can be made for purchases between January 1, 1998, and December 31, 2002, on any device that used (or uses) dynamic random access memory. So that means computers, game consoles, DVD players, DVRs, printers, PDAs, MP3 players, video cards, and servers are covered, but not DRAM itself purchased from the manufacturer.
Currently there's no proof of purchase required to file a claim, but that could change later on if the court demands it. If you still have proof of purchase, be sure to hang on to it a little while longer just in case. The amount you could get for your claim is variable, as it can be anywhere from $10 to $1,000. Larger purchases will obviously be on the higher side of that spectrum, but smaller ones could be too, if there aren't a lot of claims. If less than 2.5 million people file a claim, payouts are pro-rated to increase up to the original amount of damages, with a $25 million cap in small claims payouts. If more than five million claims are filed, then no money is set aside for small claims payouts, and instead $40 million is given to non-profit organzations.
Claims have to be filed before August 1, 2014, so don't delay too long to try and get a little something back.
Source: PC World