Japan court hears Toshiba, Western Digital fight on sale [FOX Business Network]
Western Digital Corporation (WDC)
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Source: FOX Business Network
TOKYO – The feud between Toshiba Corp. and its U.S. joint-venture partner Western Digital over a planned sale of Toshiba's lucrative flash-memory unit is being aired at a Tokyo court. Continue Reading Below At the first hearing of the case Wednesday, Toshiba's lawyers demanded 120 billion yen ($1.1 billion) in damages from Western Digital for allegedly interfering with its business and hurting its credibility as a company. Western Digital's lawyers urged the court to throw Toshiba's case out, saying it has filed a competing claim with an arbitration court in San Francisco, where the same questions are being addressed. The Tokyo District Court's ruling could determine whether or not the sale, needed to keep financially strapped Toshiba afloat, can proceed. Toshiba has been hobbled by losses at the U.S. nuclear operations of its subsidiary Westinghouse Electric Co., which filed for bankruptcy earlier this year. Toshiba reached a deal, estimated at 2 tr
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WDC
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- 1/25/24 - Beat
WDC
Sec Filings
- 4/9/24 - Form 4
- 4/8/24 - Form 144
- 4/2/24 - Form 4
- WDC's page on the SEC website