48,500 Louisiana consumers to get their money back after DRAM settlementStaff Writer | August 2, 2016
Attorney General Jeff Landry announced a settlement against Dynamic Random Access Memory (DRAM) – getting money back in the hands of approximately 48,500 Louisiana consumers who were overcharged on electronic devices containing DRAM.
Memory prices Overcharging on electronic devices
In 2005, an investigation began to examine claims that the makers of DRAM were price-fixing.
In 2007, Louisiana joined 32 other States in a lawsuit seeking to recover losses for consumers who paid more than necessary for electronic devices containing DRAM.
That lawsuit was settled and General Landry has recently mailed settlement checks to the Louisiana consumers who made claims against the manufacturers. Those payments averaged $56 per scammed consumer.
“I am excited this settlement will return money to the pockets of those who were exploited,” added General Landry.
“And as Louisiana’s Chief Legal Officer – I will continue fighting to protect our State’s consumers, elderly, and most vulnerable.” ■