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Toshiba Must Pay Lexar $381.4 Million, Jury Says |
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Wednesday, 23 March 2005 |
Toshiba
Must Pay Lexar $381.4 Million, Jury Says
Bloomberg - USA
Toshiba Corp., Japan's second-biggest chipmaker, and a unit must pay
$381.4 million to Lexar Media Inc. in a case over technology used to make
computer chips in digital cameras, cell phones, and MP3 players, a jury said.
The state court jury in San Jose, California, agreed today with Lexar's claims
that Toshiba broke a 1997 agreement to use and co-develop the flash memory
technology, used to make chips that transmit data, and then shared it with
SanDisk Corp., Lexar's largest competitor.
``It's disturbing that it took two years and millions of dollars of Lexar's
money to get Toshiba to acknowledge what it should have acknowledged years
ago,'' Eric Whitaker, Lexar's general counsel said in an interview.
Shares of Fremont, California-based Lexar rose $1.18, or 37 percent, to $4.35
after the verdict was announced. Lexar was seeking more than $1 billion in
damages and a court injunction stopping the sale of Toshiba products that use
Lexar's technology.
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Last Updated ( Wednesday, 23 March 2005 )
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