Samsung executives could still go to jail for memory price fixing
Samsung executives could still face indictments and jail time even though the company agreed to a $300 million fine. The United States Justice Department started investigating Samsung and other memory makers in 2002 for price fixing. A U.S. Federal Court approved the out-of-court settlement on Wednesday.
The investigation was started after Michael Dell, the founder and former CEO of Dell Computers, complained about rising memory costs. The Justice Department alleges that Samsung, Hynix Semiconductor, Infineon and Micron Technology conspired to fix prices. Hynix and Infineon have already accepted multi-million dollar fines, but Micron will not face punishment because it has cooperated with the investigation.
Thomas Barnett of the Justice Department’s Antitrust Division has said that company executives could still face prosecution.
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