Elpida Announces Settlement of Lawsuits Filed in US Federal Court
TOKYO, JAPAN, February 9, 2009 – Elpida Memory, Inc., Japan's leading global supplier of Dynamic Random Access Memory (DRAM), announced today that on February 6 (US local time) it reached a settlement of separate anti-trust lawsuits filed by Sun Microsystems, Inc. and three other plaintiff companies against Elpida and its US subsidiary, Elpida Memory (USA), Inc.
- Background
In January 2006 Elpida reached an agreement with the United States Department of Justice (DOJ) Antitrust Division to plead guilty to certain violations of US antitrust laws in connection with certain DRAM sales. Following the announcement of its plea agreement, in March 2006, the plaintiff companies filed separate lawsuits against Elpida and others in the United States District Court for the Northern District of California seeking damages related to alleged antitrust violations in the DRAM industry. Since that time, Elpida has been involved in legal proceedings but also in attempts to reach a settlement with the plaintiffs, which finally resulted in an agreement. - Impact on business results
A provision has been made at the end of the period for third-quarter consolidated results to cover the cost of the settlement and is reflected in third-quarter results.
About Elpida
Elpida Memory, Inc. (Tokyo: 6665) is a leading manufacturer of Dynamic Random Access Memory (DRAM) integrated circuits. The company's design, manufacturing and sales operations are backed by world class technological expertise. Its 300mm manufacturing facilities, consisting of its Hiroshima Plant and a Taiwan-based joint venture, Rexchip Electronics, utilize the most advanced manufacturing technologies available. Elpida's portfolio features such characteristics as high-density, high-speed, low power and small packaging profiles. The company provides DRAM solutions across a wide range of applications, including high-end servers, mobile phones and digital consumer electronics. More information can be found at http://www.elpida.com.
Information in this news release is current as of the timing of the release, but may be revised later without notice.