Samsung Executives Plead Guilty for Role in Chip Price-Fixing Scheme
An AP newswire article, via SFGate.com, 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.More here.
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.