OT: Samsung pleads guilty

Jay Gladwell wrote on 12/1/2005, 5:18 AM

World's largest memory chip maker, U.S. unit ordered to pay $300 million!

"Victims, according to federal prosecutors, included Dell Inc., Compaq Computer Corp., Hewlett-Packard Co., Apple Computer Inc., International Business Machines Corp. and Gateway Inc."

What about the consumers who bought the computers? Aren't they victims?


Comments

TheHappyFriar wrote on 12/1/2005, 8:03 AM
that's total BS. If they were fixing prices, how come I could get really cheap memory durring those times?

and if I want to get in on the aciton, I must sure myself. :/ But Gateway & Dell don't. :(
farss wrote on 12/1/2005, 12:01 PM
Serves them right, didn't they know they've got to give 50% of their revenue in campaign contributions, the oil companies are good corporate citizens, why should the PC manufacturers be any different.
Bob.
gdstaples wrote on 12/1/2005, 12:06 PM
They plead guilty - it is not a case of a jury or AG finding them guilty.
TheHappyFriar wrote on 12/1/2005, 5:25 PM
so... if computer manufactures ADMIT to raising prices because of this fixing, does this mean anyone who bought PC's from them between those dates geta check in the mail? After all, the company's didn't loose a penny. they just charged more or skipped on extras (like they admitted).
boomhower wrote on 12/1/2005, 6:11 PM
As I read the article, the amount they paid was a fine only. Goes right into Uncle Sugar's pocket. They were not ordered to pay restitution.

..."The deal also did not seek restitution from Samsung. Instead, victims — ranging from other chip makers and computer makers to private individuals — can sue for damages.

"We're letting that be the vehicle for victim compensation," Lynch said outside the courtroom."...

So anyone (Dell or Joe Citizen) who wants money for damages better "lawyer up" and get ready for a long battle. Outside of a class action type of suit, your average person won't be able to fight for restitution. You may see the competition (with deep pockets) sue them into oblivion though.
Chienworks wrote on 12/2/2005, 4:52 AM
Hmmm. In a case of price fixing, wouldn't most of the competition be guilty of the same thing? Or if they weren't, wouldn't they want to distance themselves from the case to avoid suspicion? It's not the competition that suffers during price fixing, it's the customers.
Jay Gladwell wrote on 12/2/2005, 5:02 AM

It's not the competition that suffers during price fixing, it's the customers.

My point exactly, Kelly!