Preliminary Approval of $25 Million Settlement Granted in SRAM Indirect Purchaser Class ActionJune 3, 2010
The District Court for the Northern District of California granted preliminary approval of a $25.4 million settlement in a multidistrict litigation over the alleged price-fixing of static random access memory (SRAM), a memory device used in such equipment as cell phones and computers. Zelle Hofmann is lead counsel representing plaintiff indirect purchasers of SRAM. These purchasers allege that between 1996 and 2006, defendant manufacturers of SRAM conspired to fix and maintain artificially high prices for SRAM. The settling defendants include Toshiba, Micron, Hynix Semiconductor Inc., Etron Technology Inc., NEC Electronics Corp. and Renesas Technology Corp., the last of which is a joint partnership of Hitachi Ltd. and Mitsubishi Electric Corp. Trial against the remaining defendants is scheduled for January 2011.