Hagens Berman Sobol Shapiro filed a proposed class-action suit against the leading DRAM (Dynamic Random Access Memory) manufacturers, claiming the companies secretly agreed to reduce the supply of DRAM in order to artificially raise prices.
DRAM is a necessary component in a wide variety of electronics including personal computers, cellular telephones, digital cameras and many other devices. DRAM allows for the storage and retrieval of electronic data.
DRAM is estimated to be a $20 billion a year business and the top six manufacturers control a vast majority of the market, the lawsuit states.
According to the complaint, beginning in 1999 the price for DRAM began falling dramatically, dipping below the cost of production. Then, in September 2001, DRAM prices spiked and by February 2002 reached as high as $4.50, the complaint states.
Plaintiffs include equipment manufacturers, franchise distributors, and smaller-volume customers who purchased DRAM through any of the named defendants from April 1, 1999 through June 30, 2002, as well as consumers who purchased DRAM from the defendants.
CASE TIMELINE
The case settled for $406 million in 2006.
