Fifth Samsung Exec Pleads Guilty in DRAM Price Fixing Probe
By Scott M. Fulton, III | Published December 21, 2006, 3:56 PM
Reuters and the Associated Press are both reporting that a fifth senior executive of world #1 DRAM manufacturer Samsung has agreed to plead guilty in connection with the US Justice Dept.'s investigation into memory industry collusion and price fixing.
Former Samsung vice president of sales Young Hwan Park will plead guilty and cooperate with the federal investigation, after which he will reportedly pay a $250,000 fine and spend ten months in prison. Samsung Electronics last month pled guilty for its own part, and was fined $300 million. Park is one of 18 executives from four organizations - Samsung, Hynix Semiconductor, Elpida, and Infineon (which has since spun off its memory unit as Qimonda) - to have been directly charged in the price-fixing probe since it began in 2002.
A separate case against these same four companies and many of their smaller competitors continues in New York State.
I cant wait for my $.05 refund. Maybe I will start my own non-profit biz (STNI). Stop The Next Iceage support Global Warming.
Score: 0
|So after the charges and stuff, will the prices go down?
Score: 0
|If they're being sued, why the hell are the prices still twice the amount than what they were a year ago? AUD$50, now $80 for Generic DDR 3200 512MB.
Score: 0
|GREED is a neurological dis-ease with NO prescription medication.
Score: 0
|They're getting jail time. Like Sony should.
Score: 0
|So, everyone is jumping up and down about the Sony ruling, but nobody cares about this one...
Score: 0
|