Chip Execs Indicted for Price Fixing
Text
By Wayne Rash
WASHINGTON?The United States Department of Justice announced Oct. 18 that a federal grand jury in San Francisco has indicted two Samsung executives and one executive from Hynix Semiconductor in a scheme that held the prices of dynamic random access memory artificially high.
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The three executives are Ung Kim, Young Bae Rha and Gary Swanson. Kim and Young are Samsung executives and are citizens and residents of Korea. Gary Swanson was a senior vice president at Hynix Semiconductor and is a resident and citizen of the United States.
The indictment charges that the three men, along with several others who have already pleaded guilty, conspired to fix memory prices through phone calls and meetings in which they agreed how much to charge manufacturers for memory chips.
eWEEK.com Special Report: Legal Actions
The Oct. 18 indictments were sought by the DoJ's Antitrust Division. If convicted, all three men could receive sentences of up to three years in prison and fines of up to $350.000.00.
However, under the provisions of the Sherman Antitrust Act, the fines could be substantially higher?up to twice the gain realized by the illegal acts.
Read the rest of this eWEEK story: "Chip Execs Indicted for Price Fixing"
Text
By Wayne Rash
WASHINGTON?The United States Department of Justice announced Oct. 18 that a federal grand jury in San Francisco has indicted two Samsung executives and one executive from Hynix Semiconductor in a scheme that held the prices of dynamic random access memory artificially high.
ADVERTISEMENT
The three executives are Ung Kim, Young Bae Rha and Gary Swanson. Kim and Young are Samsung executives and are citizens and residents of Korea. Gary Swanson was a senior vice president at Hynix Semiconductor and is a resident and citizen of the United States.
The indictment charges that the three men, along with several others who have already pleaded guilty, conspired to fix memory prices through phone calls and meetings in which they agreed how much to charge manufacturers for memory chips.
eWEEK.com Special Report: Legal Actions
The Oct. 18 indictments were sought by the DoJ's Antitrust Division. If convicted, all three men could receive sentences of up to three years in prison and fines of up to $350.000.00.
However, under the provisions of the Sherman Antitrust Act, the fines could be substantially higher?up to twice the gain realized by the illegal acts.
Read the rest of this eWEEK story: "Chip Execs Indicted for Price Fixing"
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