You Overpaid for Electronic Gear Years Ago. Here's Your Refund.

Filed under: Computers, Consumer Electronics, Saving

Walking past a penny on the sidewalk is one thing. But dashing past $10 or more is quite another.

Millions of Americans who bought electronic devices more than a decade ago could be due some cash because a bunch of companies were accused of colluding in the memory module market.

The $310 million Dynamic Random Access Memory settlement sets a low bar for consumers who believe they're eligible to collect their share of the settlement, a minimum of $10. The deadline to file a claim is Aug. 1. If you bought certain electronic devices between 1998 and 2002 you're eligible. Among the devices are computers of all sorts, video game consoles, MP3 players, printers, and DVD players.

It Takes Just a Few Minutes to File

"The settlement affects almost every consumer and business that purchased computers and other electronic devices from 1998 to 2002," Tracy Kirkham, one of the attorneys who filed the class action lawsuit, said in a statement. "We encourage everyone to file a claim to get what is owed to them."

To put in for your payout, go to the settlement page, fill out a claim form and submit it online. It takes less than five minutes, plus the time you might want to spend trying to remember what devices you might have have around your house about 15 years ago. You don't need any receipts or other proof of the purchases, just the memories. Companies that bought a large amount of electronic equipment need to show some documentation.

A series of lawsuits followed a 2002 U.S. Justice Department investigation that found the makers of DRAM worked together to artificially inflate prices. Among the companies that paid into the settlement fund are Hitachi (HTHIY), Micron Technology (MU), Samsung (SSNLF) and Toshiba (TOSBF).

 

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