Micron, Oracle settle lawsuit over chip prices

Associated Press

Published: Friday, March 30 2012 3:00 p.m. MDT

BOISE — Micron says that it has settled a lawsuit filed by Oracle that alleges the Boise chipmaker and other companies artificially inflated prices for microchips.

The lawsuit filed in 2010 claimed that Micron and the other companies were involved in a conspiracy to raise prices from 1998 through 2002 in violation of federal and state antitrust laws.

The Idaho Statesman reports that the company released a statement last Thursday announcing the settlement.

The chipmaker says the effect will be a net loss of $58 million above what the company previously reported for the second fiscal quarter of 2012.

That brings the total net loss to $282 million for the quarter on net sales of $2 billion.

The company says the full effects of the settlement will be detailed in regulatory filings.

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