Another class action lawsuit has been filed that alleges that Samsung, Hynix, and Micron conspired to limit the supply of memory, keeping consumer prices artificially high as a result.
According to Forbes, competition between between Samsung, Micron and Hynix were forcing prices to drop on RAM, despite record demand for the memory. Starting the first calendar quarter of 2016 and through the third quarter of 2017, Hagens Berman alleges that the trio’s revenues from global Dynamic random-access memory (DRAM) sales more than doubled as a result of the production decrease and price-fixing scheme.
Samsung, Micron and Hynix collectively controlled 96% of the worldwide DRAM market share as of the middle of 2017. When the Chinese government announced an investigation into the matter in 2017, the “conduct changed abruptly,” according to the court filing.
“What we’ve uncovered in the DRAM market is a classic antitrust, price-fixing scheme in which a small number of kingpin corporations hold the lion’s share of the market,” said Steve Berman, managing partner of Hagens Berman. “Instead of playing by the rules, Samsung, Micron and Hynix chose to put consumers in a chokehold, wringing the market for more profit.”
Full Content: Forbes
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI