Western Digital Corp. today reported that on November 18, 2011, an arbitration award of $525 million was rendered against the company by a sole arbitrator in a pending confidential arbitration action in Minnesota. The amount of the award does not include prejudgment interest, which will be subsequently determined. The award involves claims brought by Seagate Technology LLC against WD and one employee who was formerly employed by Seagate, alleging misappropriation of confidential information and trade secrets.
"We do not believe there is any basis in law or fact for the damage award of the arbitrator," said John Coyne, president and chief executive officer. "We believe the company acted properly at all times and we will vigorously challenge the award. This does not affect our ability to conduct our operations, to complete the recovery and recommencement of our Thailand operations or, subject to obtaining the required regulatory approvals, to consummate our planned acquisition of Hitachi GST."
Source: Western Digital
Latest News Posts
- The first gameplay footage from Far Cry Primal has arrived
- Batman: Arkham Knight PC update reduces framerate hitching
- Fallout 4 mod fixes compass glitch caused by Crimson Edition driver
- Creationists upset over Google 'Who is Lucy' Doodle
- Microsoft restores Windows 10 November update downloads
- North Bridge Frequency Locked at 4300 on Fatal1ty X99M Killer/3.1 Board
- New SSD Connections and GA-Z87X-UD5H?
- ID-Cooling Frostflow 120L CPU Liquid Cooler Review
- SanDisk Extreme 500 240GB USB 3.0 Portable SSD Review
- ID-Cooling IS-VC45 SFF CPU Cooler Review
- CYBERTRONPC OFFERS TESSERACT 15 SK NOTEBOOK, NOW WITH 6th GEN INTEL PROCESSOR AND WINDOWS 10
- HERE and the Netherlands evaluating 4G/LTE-based C-ITS road messaging system
- Sony PLAYSTATION 4 (PS4) SALES SURPASS 30.2 MILLION UNITS WORLDWIDE
- Samsung Starts Mass Producing Industry's First 128-GIGABYTE DDR4 Modules for Enterprise Servers
- LG RAY DELIVERS LARGE HD DISPLAY AND BEST-IN-CLASS CAMERAS FOR 3G MARKETS