Hagens Berman LLP filed a class action lawsuit against the top three DRAM makers Samsung, Hynix and Micron in the Northern California District Court this week. The lawsuit represented US consumers who purchased products such as smartphones and PCs in 2016 and 2017.
An independent investigation conducted by Hagens Berman's antitrust lawyers revealed that these DRAM manufacturers restrict the supply of various types of DRAM products in the market, thus pushing up the price. DRAM is used in a variety of consumer and industrial devices, including laptops, desktops, smart phones, and other types of electronic products.
In 2017, the three defendants’ total share of the global DRAM market was 96%. During this period, global DRAM prices rose as much as 130%. According to media reports, Samsung, Hynix and Micron’s sales revenue more than doubled over the same period.
Steve Berman, managing partner of Hagens Berman, said: “We have seen typical monopolies and price manipulation problems in the DRAM market. A small number of dominant companies accounted for the largest market share. Samsung, Micron and Hynix does not conduct business in accordance with the rules, and their actions damage the users and manipulate the market in order to obtain more profits."
The lawsuit alleges that these companies conspired to limit the supply of DRAM, causing the price of the product to increase in 2016 and 2017, which eventually led to the soaring price of the memory product during this period.
Berman also said: "This is not the first time we have seen the DRAM industry trying to squeeze more profits from users. In a similar case, we helped DRAM buyers reach a $300 million settlement plan. We plan to provide users again. Get such a plan."