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
- Spotify in 'advanced talks' to buy SoundCloud
- Hardware Deals: i5-6600K nears $200, GTX 1070 under $350
- NVIDIA GeForce GTX 1050 Ti has no PCIe power connector
- AMD rumored to launch Vega 10 with HBM2 later this year
- AMD gaining discrete GPU market share from NVIDIA
- ASUS X99-Deluxe II Motherboard Review
- U.2 Kit on Taichi
- Z170X-Gaming 5 - Thunderbolt controller + Intel RST drivers issue.
- Palit GeForce GTX 1070 GameRock Premium Edition Review
- GA-EX58-UD3R Vt-d support
- Antec and Razer team up to co-brand a new Mini-ITX gaming chassis
- Samsung Electronics accelerates the NVMe era for consumers with its highest performing 960 PRO and EVO Solid State Drives
- Lighting is in the Aer: NZXT launches Aer RGB, premium LED PWM fans
- Syber Gaming delivers VR and 4K-ready 'C Series' small form factor gaming PC
- HyperX Gears of War gaming headset shipping now