Wednesday, March 22, 2006

Samsung Executives Plead Guilty for Role in Chip Price-Fixing Scheme

An AP newswire article, via, reports that:

Three executives from South Korea's Samsung Electronics Co. Ltd. agreed to plead guilty and serve jail time for participating in a conspiracy to fix the price of computer memory chips, the U.S. Justice Department said Wednesday.

Each executive agreed to pay a $250,000 fine, cooperate with federal authorities on the investigation and serve prison sentences ranging from seven to eight months for their role in a scheme to raise prices for dynamic random access memory, or DRAM, from 1999 to 2002. A federal judge in San Francisco must approve the deal.

More here.


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