Micron makes peace with Oracle, Sun shines again

Micron has reached a deal with Oracle to settle a lawsuit over price increases for memory chips which happened in the good old days before Larry Ellison got his claws into Sun Microsystems..

Oracle claimed that Micron Technology hatched “conspiracy”with other DRAM makers to increase chip prices for the period from August 1, 1998, through at least June 15, 2002.

Sun Microsystems, which Oracle bought in January, 2010, bought billions of dollars of DRAMs from the alleged conspirators including Micron.

In 2002 the DOJ stuck its oar in, and investigated five top DRAM makers including Micron.  Micron managed to escape criminal prosecution by being the first to admit its participation in the illegal cartel.

According to Reuters, Micron said Oracle agreed to a settlement and would release the company from all claims arising out of the litigation.

Details of the settlement were not disclosed but Micron had to revise its second quarter results on account of the settlement. It said that its net loss for the quarter was $282 million which is $58 million lower than previously reported, so this might give a clue as to how much money was required to make Oracle go away.