Micron settles memory chip lawsuit with Oracle

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.

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.