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DRAM Manufacturers Settle in Price Fixing Class Action Suit

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Class action screwiness (Score: 4, Informative)

by useless@pipedot.org on 2014-04-04 14:22 (#ZE)

Granted, most class action settlements make no sense, but this one boggles the mind. If you read the actual distribution of the settlement (pages 5-6):
http://dramclaims.com/wp-content/uploads/2014/02/DetailedNotice-English.pdf
Splitting a 200M pool of cash (nice windfall for the lawyers and govt at $110M). Individuals get $10+, BUT only if there is less than 2.5M claims (this would be -$25M out of the $200M pool). If there are more than 5M claims, no claims will be honored, instead $40M will go to court approved non-profits (-$40M out of a $200M pool).

What happens if there are more than 2.5M, but less than 5M claims?
More confusing: where does the other $160M-$175M go? The govt. and lawyers already took their cut off the top.

Re: Class action screwiness (Score: 2, Interesting)

by bryan@pipedot.org on 2014-04-04 17:38 (#ZG)

Probably the best part of the whole thing was this line from the PDF:
In addition, Defendants have agreed not to engage in the conduct, that is the subject of the lawsuits, and have also agreed to compliance training and cooperation.

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Time Reason Points Voter
2014-04-07 12:02 Interesting +1 nightsky30@pipedot.org

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