SAN FRANCISCO—The deadline is quickly approaching for companies that purchased SRAM memory indirectly between Nov. 1, 1996 and Dec. 31, 2006 to join a class action settlement and potentially be eligible to receive a portion of $40 million in settlement money.
Companies who indirectly purchased chips during the time period made by one of the 11 companies that have reached settlement agreements must join the settlement by Oct. 24 to be eligible for a portion of the settlement funds, according to Computershare Claims Recovery Services, a financial services company that helps companies receive settlement money from class action lawsuits.
Eleven chip firms reached agreements to settle a class action suit on behalf of SRAM purchasers. The suit alleged that the companies conspired to fix SRAM prices. In settling, the 11 companies admitted no wrong doing.
The 11 chips companies that reached settlement agreements included Cypress Semiconductor Corp., Etron Technology Inc., Hynix Semiconductor Inc., Micron Technology Inc., Mitsubishi Electric Corp., NEC Electronics Corp., Renesas Technology Corp, Samsung Electronics Co. Ltd. and Toshiba Corp.
No deadline has been set for companies that purchased SRAM directly from the 11 companies to file their claims, according to Computershare. Nearly $80 million in settlement money is available for companies that purchased SRAM directly from the 11 vendors between Nov. 1, 1996 and Dec. 31, 2005, according to Computershare.