Nevada Attorney General Catherine Cortez Masto announced a $90 million nationwide antitrust settlement with Samsung Semiconductor, Inc. and Samsung Electronics Company Ltd.
The action resolves allegations that Samsung and its competitors fixed the prices of Dynamic Random Access Memory (DRAM), a memory chip used in computers and computer equipment.
Samsung also agreed to injunctive relief preventing similar conduct and to cooperate with Nevada and other states in prosecuting co-conspirators.
Samsung admits no wrongdoing in the settlement, which is subject to court approval. Nevada continues to pursue litigation seeking relief for consumers and government entities who paid higher prices for computers and computer equipment from 1998 to 2002 as a result of alleged price fixing by at least seven DRAM manufacturers.
Nevada law firm celebrates 40th anniversary
The 40th anniversary of Lionel Sawyer & Collins, Nevada’s largest private law firm, is this month. It was founded Feb. 7, 1967, by Sam Lionel and former Gov. Grant Sawyer.
The firm offers a full range of legal services, including gaming and regulatory law, litigation, commercial transactions, environmental, bankruptcy, banking, health care and corporate law. It has offices in Las Vegas, Reno, Carson City and Washington, D.C.
For information, visit http://www.lionelsawyer.com.
ProLogis building begun at Tahoe Reno Industrial Center
Construction has begun on the 601,000-square-foot ProLogis building at the Tahoe Reno Industrial Center, 10 miles east of Sparks on Interstate 80.
The shell is expected to be completed in early April or May. Phase two will include a second building of 415,000 square feet on an adjoining 26-acre site.
The building will be the largest ever constructed in Northern Nevada. ProLogis is one of the largest providers of industrial space in the Reno/Sparks market.
Faulstich and Knobel named to Nevada Security Bank board
Lance Faulstich, of Grubb & Ellis/Nevada Commercial Group, and Mark Knobel, of Avinsino, Melarkey, Knobel, Mulligan, have been elected to the board of directors for Nevada Security Bank and the board of The Bank Holdings, the Reno-based parent company of Nevada Security Bank.
Faulstich and Knobel were directors of NNB Holdings, the parent of Northern Nevada Bank, which was acquired by The Bank Holdings in November.
CAHI appoints two new directors, partners with Irwin Union
Citizens for Affordable Homes, Inc. announced that Don Orndorff of Hawthorne and Ron John of Dayton will join its board of directors.
Orndorff was the Browns field coordinator and the economic development coordinator for public lands, helping CAHI acquire land in Hawthorne. He is a retired Oregon law enforcement officer and is employed by the Nevada Legislative Police.
CAHI has also announced that it will affiliate with Irwin Union Bank to provide construction and permanent loan financing for eight homes under construction in Dayton.
The loans are provided for under the MyCommunityMortgage loan through Fannie Mae. CAHI and Irwin Union have been working for a year to get the program in place as a source for funds for the Carson City Condo project.