Sunday, October 22, 2006

Price-fixing in the memory biz

In the latest development into a long-running Department of Justice investigation into price-fixing in the memory chip trade, three more executives have been indicted:

A federal grand jury in San Francisco handed down indictments Wednesday against two executives from Samsung and one from a Hynix U.S. subsidiary, the Department of Justice said in a statement.

The indictment charges that Samsung executives Il Ung Kim and Young Bae Rha and Hynix's Gary Swanson participated in the conspiracy during 2001 and 2002, the government said.

Eight other execs from the two companies have already entered guilty pleas.

In all, four companies and 16 individuals have been charged as a result of the long-running memory chip investigation. The probe also has resulted in fines totaling more that $731 million.

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