Micron Wins Anti-Trust Case, Stock Soars Higher

Nov 16, 2011
J. Webster
Comments Off on Micron Wins Anti-Trust Case, Stock Soars Higher

Happy days are here again for all those holding shares of Micron (MU). The stock has been hanging around the $5 range for months, with the overhang of the antitrust case weighing down on it. Now, after a jury said Micron didn’t manipulate prices of dynamic random access memory chips, the stock can get back to its winning ways and out of the trading range. After the winning verdict the stock shot up 23%, most likely on a short squeeze, but it most likely can start to move in a positive direction again with the case resolved.

Micron Technology Inc. won a big legal victory Wednesday when a California jury ruled in its favor in an antitrust case.

The Boise computer-memory maker did not conspire to keep a memory product developed by a California chip designer from becoming an industry standard, a California State Court jury decided.

The jury’s 9-3 vote came after jurors deliberated eight weeks. The jurors sat through 15 weeks of proceedings and testimony before that.

The jurors rejected Rambus Inc.’s claims that Micron and South Korea-based Hynix Semiconductor Inc. are liable for colluding to manipulate prices of dynamic random access memory, or DRAM, chips in violation of California antitrust law.

Jurors also found, by the same vote, that the two companies aren’t liable for plotting to interfere with Rambus’s business relationship with Intel Corp. and driving the world’s largest chipmaker away from their collaboration on RDRAM, or Rambus-designed memory, that began in the 1990s.

“The jury’s verdict validates our assertion that Micron acted in accordance with the law and consistent with its values of innovation and fair competition in the marketplace,” said Steve Appleton, Micron chairman and CEO.

Source: (IdahoStatesman)

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