Micron has already admitted guilt - see below. Rambus is after $4.3B in damages, which in CA are automatically trebled. Yes, $13B is at stake. There is no DOJ amnesty in this civil case brought by Rambus. This case is not about patents or Rambus' conduct - only MU's participation in a memory manufacturer cartel.
Appleton continued, “Although a recent Electronics Weekly article suggested that I believe it is not possible to control prices in this industry and that the DOJ’s investigation is theoretical, neither is the case. The DOJ’s investigation revealed evidence of price fixing by Micron employees and its competitors on DRAM sold to certain computer and server manufacturers. Nevertheless, if Micron fully complies with the Corporate Leniency Policy, Micron will not be subject to criminal sanctions or fines, notwithstanding Micron’s involvement in the misconduct.” Appleton stated further, “Micron deplores any effort to fix or stabilize prices and is committed to rectifying past behavior and ensuring any misconduct will not recur. Micron is dedicated to strong governance practices and comprehensive compliance programs. These efforts include global programs to ensure our employees understand how to interact appropriately with competitors, suppliers and customers. Our believe (sic) in these principles guides the company’s long-standing commitment to strong governance practices and our implementation of up-to-date, comprehensive compliance programs. Micron continues to cooperate fully and actively with the DOJ in its investigation.
I believe that Micron will need to settle before all of the details are produced by Rambus to the jury, some of which could invalidate MU's leniency agreement with the DOJ. If lifted, MU's executives could go to jail and have to pay hundred's of millions in fines, as did Hynix and Samsung.
I am glad you are an informed investor. But wouldn't an informed investor want to actually read about the case from the other sides perspective before being so dismissive?
Here is Rambus' actual complaint in the matter, which includes some of the "smoking gun" evidence already introduced. Please read and then let's compare notes.
Why can't we just have a civilized, mature discussion about MU? You will notice that I have not resorted to any childish name calling or judgement, but instead simply expressed myfeelings about MU and its conduct, as well as facts about the upcoming AT.
If I have mispoken, fine - tell me where? Do you lash out simply because you disagree and can't refute what I am saying?
You are right. I am not qualified to give a legal opinion. This is purely my own opinion after watching these events unfold for a very long time.
Instead of childish name calling, let's have an intelligent discussion. Tell me where you think my logic fails.
PS - I do not post under any other alias, and I am not a paid basher. I am a RMBS long, period.
Just put your money where your mouth is and short MU. What are you some second year law student trying to pay your tuition as a paid basher? I'll give your legal advice the same thoughtful consideration as used toilet paper.
You really need directly talk to Appleton himself instead of spending your day and night on this message board trying to threat MU share holders. Your agenda is so clear to board and you even brag CA court and CA jury will likely make CA Rambus 13 billion from Micron because it is in ID.
Go home and have some rest. Your battle is not over.
I am not bragging about a CA court giving $13B to Rambus. I am suggesting that MU has an exposure to a large liability which could be that high if Rambus is successful. Anything can happen in litigation - there is no sure thing. I am calling these things to your attention because Appleton has been so dismissive of Rambus' charges, and MU shareholders are entitled to know that there is at least a possibility of a very big downside in all of this.
Why? Because MU has already plead guilty to price fixing. So then it is all about how much the damages are. Rambus' expert says $4.3B which in CA is automatically trebled. Just because Rambus' expert says $4.3B doesn't make it so. However, a CA jury will decide that. Would you, as the CEO of MU, leave that decision to a CA jury? The answer to that should be no. That being the case, you would be willing to pay a very large settlement to make this go away. That is possibly a subject being considered behind the scenes right now.
When/if the settlement comes down, I don't think it will be a number that Wall St. likes, since Appleton has led Wall St. to believe that MU has no liability in this matter. If no settlement, then the press gets to hear about and report all the antitrust activity on MU's part, and then a possible adverse opinion. Neither scenario bodes well for MU.
Recall that Rambut destroyed 18,000 pounds of evidence files. The comments you quote seem to be 'cut & paste' from a related article but out of context.
IMHO, anyone that destroys 18,000 pounds of evidence has something of its own that needed to be hidden from court scrutiny.
You need to know that there are two major litigations between the parties.
1. The patent infringement trial, which involves the spoliation you speak of. That case was remanded back to the Delaware judge who must back up the death penalty of patent invalidation with evidence of both bad faith and prejudice. That one is likely deferred for six months or longer.
2. The AT trial, which is in a week. That one is not about patent infringement, and not about Rambus' conduct. It is about MU's conduct - namely antitrust price fixing. It was the biggest price fixing case in US history. MU already confessed to it, so the trial will not likely go well for MU.
The article I quoted had comments from MU CEO Appleton after he alluded publicly to difficult "competition" in the market place. He had to retract the comment since MU had just been caught in non-competitive antitrust activity. The leniency from the DOJ dictated that Appleton be honest with the public or else the leniency deal was off. So Appleton retracted the comment via the quote I provided. The quote is not out of context.
I am braking my own words to not say anything more... and only because you are an idiot... I see that you said that you are not short Micron but long Rambus.
OK with that said are you also a paid shill? Nobody stays on a chat board day in, day out, Sundays and Holidays unless so. Now I am long Micron with July calls and you are trying to be a nice guy to forewarn me of my impending doom? Thanks, am I going to see you here until then?
You have said your take and yet keep babbling the same, day by day, so much so that your objective doesn't match the rhetoric. Maybe it's time to forward your info... http://www.zimbio.com/Crime,+Background+Checks,+Foul-Play,+ Fraud+And+Investigations/articles/UXuENWgK4Pg/Stock+Pro moters+Indicted+Conspiracy+Stock
"Now I am long Micron with July calls and you are trying to be a nice guy to forewarn me of my impending doom?"
Yes - I think you will lose money with any position in MU, especially right now. Rambus has waited and MU has delayed this matter for 7 years. Rambus now gets its day in court. I could be wrong, but I've read the evidence and I don't think it will go well for MU.
"Thanks, am I going to see you here until then?"
Perhaps, now that you have resorted to name calling. Dont like what I say? Ok, I understand that. But try for a moment to recognize that there is another point of view that you might at least listen to before investing your money. A mult-billion dollar loss would be a catastrophe for MU, especially since Appleton has everyone convinced that MU has no exposure. MU has huge exposure in my estimation. Disagree? Ok. Tell me why. Tell me why MU will go scott free for anti-trust damages which it has already confessed to.