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.