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BOISE -- Micron Technologies announced on Thursday that it had settled an ongoing lawsuit with competing chip maker Oracle.

Oracle filed the lawsuit in 2010 by claiming that Micron and other companies conspired to raise prices on various computer chips and forms of computer memory for a period of four years from 1998 to 2001.

Representatives from Micron say the settlement will reduce quarterly earnings by $58 million dollars for the second quarter of 2012.

A news release sent my Micron on Thursday states that shareholders will experience some loss in revenue due to the settlement.

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