LAS VEGAS - Attorney General Catherine Cortez Masto announced today that consumers can now file claims to recover money due to court preliminary approval of multi-state settlements worth $310 million with all the major manufacturers of Dynamic Random Access Memory computer chips ("DRAM") for conspiring to fix their prices. Consumers who can submit claims include those who paid more for DRAM or for the many electronic devices that contain DRAM.
"The companies in this case victimized consumers by conspiring to keep the prices of an essential computer component artificially high," said Masto. "After litigating this for years, Nevada has been able to secure monetary relief for its consumers. Affected consumers should file claims to recoup money from the settlements."
After completing an investigation in 2006, Nevada, with other states, filed antitrust lawsuits in federal court alleging that Nevada's consumers over-paid for electronic devices containing DRAM for their purchases made from 1998 to 2002. DRAM is a common form of memory chip found in computers (laptops, desktops, and servers), graphics cards, video game consoles, MP3 players, printers, PDAs, DVD players, digital video recorders, and other electronic devices.
The settlements, reached in conjunction with class actions, pay individuals and businesses that purchased DRAM or devices containing DRAM in the United States during 1998 to 2002 from someone other than a DRAM manufacturer, such as retailers like Best Buy or Staples. The settlements also require the DRAM manufacturers to implement antitrust compliance programs and enjoin them from certain conduct related to the sale of DRAM that would violate the antitrust laws.
To receive money from the settlements, eligible consumers need to submit a claim form by August 1, 2014 with the settlements' administrator. The amount of money received depends on the type and quantity of electronic devices a claimant has purchased, and the total number of claims made. Individuals who purchased DRAM or products containing DRAM are expected to get a minimum $10 payment and may end up receiving up to the amount of the overpayment they actually made due to the alleged price fixing. To file a claim, visit www.DRAMclaims.com or call 1-800-589-1425.
Any payments resulting from the settlements cannot be made until the court has granted final approval to the settlements, including the resolution of any appeals. It is anticipated that final approval will occur within the next few years. Also, if too many or few claims are received, the court may order that the settlements' funds be provided to public or non-profit organizations in addition to or instead of consumers who file claims.
For more information about the settlements, visit www.DRAMclaims.com or call 1-800-589-1425.[[In-content Ad]]
