If you purchased a piece of equipment which uses dynamic random access memory, commonly referred to as DRAM, between 1998 and 2002, you may be eligible to take part in a $310 million settlement of a class-action lawsuit.
Michigan Attorney General Bill Schuette announced the decision today, alerting businesses and consumers who purchased products like computers, video game consoles, MP3 players, printers, PDAs, DVD players or the DRAM itself that they may be entitled to cash payments from the settlement fund.
The fund was created through settlements with 12 manufacturers over claims that they conspired to raise the prices of their products. However, if you bought DRAM directly from one of the manufacturers named in the suit, you are not eligible.
It is expected that approximately $200 million will be paid out to those affected, who need to file claims by August 1st in order to compensated.
It’s unknown how much each individual class member will receive, but estimates indicate it will be at least $10.
If you think you were affected by the gouging, Schuette says you can get additional information on the process and how to fill out a claim form at www.dramclaims.com or by calling 1-800-589-1425.