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-   -   $380 Million Bucks!!!! Toshiba BUSTED.... (https://gfy.com/showthread.php?t=447791)

Greg B 03-24-2005 03:28 AM

$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.

buddyjuf 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.

buddyjuf 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 :winkwink:

Greg B 03-24-2005 03:42 AM

Quote:

Originally Posted by bdjuf
hehe yeah, I was talking about Toshiba stock :winkwink:

Ja, I know you were.

Drake 03-24-2005 04:24 AM

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


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