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Friday, March 30, 2012
Micron Settles Lawsuit With Oracle

Micron Technology announced today that it reached an agreement with Oracle to settle a lawsuit filed by Oracle against Micron in the U.S. District Court for the Northern District of California over price increases for memory chips.

The lawsuit alleged a conspiracy to increase DRAM prices and other violations of federal and state antitrust and unfair competition laws based on purported conduct for the period from Aug. 1, 1998, through at least June 15, 2002, and sought joint and several damages, trebled, as well as restitution, disgorgement, attorneys' fees, costs and injunctive relief. Pursuant to the settlement agreement, the parties agreed to a settlement and release of all claims and a dismissal with prejudice of the litigation. Terms of the settlement were not disclosed.

Micron revised its second quarter results on account of the settlement, saying its net loss for the quarter was $282 million, or $0.29 per share, $58 million lower than previously reported.

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