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Class-action suit filed against Infineon over DRAM pricing

Posted: 12 Oct 2004 ?? ?Print Version ?Bookmark and Share

Keywords:lasky & rifkind? infineon technologies? dram?

Lasky & Rifkind Ltd, a law firm with offices in New York and Chicago, has filed a class-action lawsuit in the U.S. District Court for the Northern District of California against Infineon Technologies AG, the firm said Wednesday (Oct. 6).

The lawsuit was filed on behalf of holders of Infineon's publicly-traded securities of between March 2000, and July 2004. The law firm has invited individuals who meet the criteria to join the action.

The complaint alleges that Infineon and company officers and directors concealed adverse information from shareholders, including that the company engaged in anticompetitive behavior to fix DRAM prices.

Infineon agreed last month to pay a $160 million fine as part of a federal DRAM DRAM price-fixing probe. The company said at the time it was setting aside $250 million against potential legal liabilities in July.

According to antitrust enforcers, Infineon was accused of participating in meetings with competitors in which they discussed DRAM prices for computer makers. The company was also accused of exchanging DRAM sales information in order to monitor compliance with the price-fixing scheme.

A Micron Technology Inc. manager has also been charged by the Justice Department with obstruction of justice in connection with the DRAM price-fixing investigation.

- Peter Clarke

Silicon Strategies

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