Micron settles memory chip lawsuit with Oracle

By : |March 30, 2012 0

NEW YORK, USA: Semiconductor manufacturer Micron Technology Inc said late on Thursday it has reached a deal with software giant Oracle to settle a lawsuit filed by Oracle over price increases for memory chips.

The lawsuit accused Micron Technology of hatching a "conspiracy" to increase DRAM chip prices for the period from August 1, 1998, through at least June 15, 2002, and included a claim for damages.

Micron said Oracle had agreed to a settlement and would release the company from all claims arising out of the litigation. Terms of the settlement were not disclosed.

                                 

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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.

On March 22, Micron reported a net loss of $224 million, or 23 cents per share, for the second quarter, versus a net profit of $72 million, or 7 cents per share, a year ago.

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