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March 30, 2012

Oracle agrees to drop lawsuit against Micron

Following a settlement reached with the semiconductor company in the US District Court for the Northern District of California

By CBR Staff Writer

Semiconductor devices provider Micron Technology said it has reached an agreement with software company Oracle to settle a lawsuit filed against it by the latter in the US District Court for the Northern District of California.

Oracle in the lawsuit had alleged that Micron conspired to increase DRAM prices for the period from August 1, 1998 through at least June 15, 2002.

Both the parties agreed to a settlement and release of all claims arising out of the litigation.

The effect of this settlement on Micron’s results of operations for the second fiscal quarter of 2012 is a reduction in revenue and an increase in its net loss of $58m to $282m as compared to the results previously reported on March 22.

The terms of the settlement were not disclosed.

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