Securities Suit Against DRAM Maker Moves Forward

Law360, New York (August 13, 2008, 12:00 AM EDT) -- A federal court has denied dynamic random access memory maker Infineon Technologies AG’s motion for summary judgment in a consolidated shareholder class action suit alleging company executives' engagement in a price-fixing scheme led to significant shareholder losses.

Judge James Ware of the U.S. District Court for the Northern District of California denied Infineon’s motion Wednesday, after finding that certain information needed to allege securities fraud was not available for general investors until after September 2002, the cut-off for statute of limitation purposes. Therefore, the plaintiffs could...
To view the full article, register now.