DRAM makers have reached a $310 million settlement in a price-fixing lawsuit.
If you purchased a computer or video game console between 1998 and 2002, there’s a good chance someone owes you some cash.
Twelve DRAM computer chip manufacturers, including Samsung, Toshiba, Hynix and Hitachi, recently settled a price-fixing lawsuit, agreeing to pay out $310 million. About two-thirds of the payout will go to consumers and businesses affected by the price-fixing scheme, said PCWorld.
This is the result of a class-action lawsuit by 33 state attorneys general. The plaintiffs have denied wrongdoing.
If you bought a computer, printer, game console, DVD player or MP3 player between Jan. 1, 1998, and Dec. 31, 2002, you’re likely eligible to submit a claim. Millions will be eligible to file, says NBC News.
The payouts start at $10, while some could get up to $1,000. PCWorld said the payouts will be determined by how many people file claims.
If fewer than 2.5 million people file small claims, the payouts will increase at a prorated rate, up to the amount of actual damages incurred and capped at $25 million in small claims payouts. If more than 5 million people file small claims, they won’t get any money at all, and instead $40 million will be paid out to court-approved nonprofit organizations.
Want to submit a claim? The deadline is Aug. 1. Go to DRAMclaims.com or call (800) 589-1425 for more information.