$380 Million Bucks!!!! Toshiba BUSTED.... - GoFuckYourself.com

Greg B · 03-24-2005, 03:28 AM

I figure any company that can't put out a decent manual with it's top notebooks, somethin' is wrong...
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http://news.zdnet.com/2100-1040_22-5...=zdfd.newsfeed

A jury on Wednesday found Toshiba liable for breach of fiduciary duty and theft of trade secrets and awarded more than $380 million in damages to Lexar Media, a maker of memory cards used in computers and digital cameras, the company said.

The California State Superior Court jury in San Jose also found that Toshiba's actions support an award of punitive damages, which are yet to be decided, Lexar said.

Shares of Fremont, Calif.-based Lexar, which rose 5.7 percent to close at $3.17 on Nasdaq, were 48 percent higher at $4.68 in after hours trading.

The verdict "holds Toshiba accountable for its conduct--building Lexar's trust to acquire our technology and then betraying that trust to partner with our competitor and compete against us," Eric Whitaker, Lexar's general counsel, said in a statement.

A Toshiba spokeswoman in Tokyo declined to comment on the ruling, saying the Japanese firm is still checking on details of the jury's decision.

Lexar said it expects the court to rule on its separate claim for unfair competition as well as on anticipated post-trial motions shortly after a hearing currently scheduled for April 13.

Based on the jury's verdict and findings, Lexar said it intends to ask the court for an injunction that bars the sale of Toshiba's products in the United States, including Toshiba's large and small block NAND flash chips, its CompactFlash, Secure Digital and xD Picture Card products.

Lexar's case for patent infringement against Toshiba on more than 10 of its patents remains pending in Federal Court.

Story Copyright ? 2005 Reuters Limited. All rights reserved.

03-24-2005, 03:30 AM

watch the stock drop tomorrow...

Greg B · 03-24-2005, 03:38 AM

Ha! Funny you mentioned that! Stock for Lexar went UP after the decision.

Man, if you've got the excess bucks, keep an eye on the lawsuits.

03-24-2005, 03:40 AM

Quote:

Originally Posted by Greg B

Ha! Funny you mentioned that! Stock for Lexar went UP after the decision.

Man, if you've got the excess bucks, keep an eye on the lawsuits.

hehe yeah, I was talking about Toshiba stock

Greg B · 03-24-2005, 03:42 AM

Quote:

Originally Posted by bdjuf

hehe yeah, I was talking about Toshiba stock

Ja, I know you were.

Drake · 03-24-2005, 04:24 AM

Wow that's huge. It's a shame. I love Toshiba computers.

03-24-2005, 03:28 AM	#1
Greg B So Fucking Banned Join Date: Jul 2001 Location: EARTH (for the time being) Posts: 7,014	$380 Million Bucks!!!! Toshiba BUSTED.... I figure any company that can't put out a decent manual with it's top notebooks, somethin' is wrong... ---- http://news.zdnet.com/2100-1040_22-5...=zdfd.newsfeed A jury on Wednesday found Toshiba liable for breach of fiduciary duty and theft of trade secrets and awarded more than $380 million in damages to Lexar Media, a maker of memory cards used in computers and digital cameras, the company said. The California State Superior Court jury in San Jose also found that Toshiba's actions support an award of punitive damages, which are yet to be decided, Lexar said. Shares of Fremont, Calif.-based Lexar, which rose 5.7 percent to close at $3.17 on Nasdaq, were 48 percent higher at $4.68 in after hours trading. The verdict "holds Toshiba accountable for its conduct--building Lexar's trust to acquire our technology and then betraying that trust to partner with our competitor and compete against us," Eric Whitaker, Lexar's general counsel, said in a statement. A Toshiba spokeswoman in Tokyo declined to comment on the ruling, saying the Japanese firm is still checking on details of the jury's decision. Lexar said it expects the court to rule on its separate claim for unfair competition as well as on anticipated post-trial motions shortly after a hearing currently scheduled for April 13. Based on the jury's verdict and findings, Lexar said it intends to ask the court for an injunction that bars the sale of Toshiba's products in the United States, including Toshiba's large and small block NAND flash chips, its CompactFlash, Secure Digital and xD Picture Card products. Lexar's case for patent infringement against Toshiba on more than 10 of its patents remains pending in Federal Court. Story Copyright ? 2005 Reuters Limited. All rights reserved.

03-24-2005, 03:30 AM	#2
buddyjuf Guest Posts: n/a	watch the stock drop tomorrow...

03-24-2005, 03:38 AM	#3
Greg B So Fucking Banned Join Date: Jul 2001 Location: EARTH (for the time being) Posts: 7,014	Ha! Funny you mentioned that! Stock for Lexar went UP after the decision. Man, if you've got the excess bucks, keep an eye on the lawsuits.

03-24-2005, 04:24 AM	#6
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	Wow that's huge. It's a shame. I love Toshiba computers.