The first settlement decision in a cartel case was announced on 19 May 2010, in a case concerning the illegal exchange of sensitive price information for computer memory chips or DRAMs. The European Commission imposed fines totalling €331 million on Samsung, Hynix, Infineon, NEC, Hitachi, Mitsubishi, Toshiba, Elpida and Nanya. No fine was imposed on Micron for its participation because it received immunity from fines under the Commission’s leniency programme for having revealed the existence of the cartel. Some of the other participants received reductions of fines under the leniency programme reflecting the level of their co-operation in the investigation. The novelty of this decision is that this was the first time cartel participants were able to benefit from reductions under the Commission’s new settlement procedure. Under the procedure, the companies acknowledging their involvement in a cartel before the adoption of a Statement of Objections receive a 10% reduction in fines. Competition Commissioner Almunia described the decision as “another milestone in the Commission’s anti-cartel enforcement”. The new settlement procedure is a boon to the competition authorities as it is designed to reduce the duration and cost of investigations