The Wall Street Journal: Toshiba sues partner Western Digital for $1 billion [MarketWatch]
Western Digital Corporation (WDC)
Last western digital corporation earnings: 4/30 04:01 pm
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Source: MarketWatch
Toshiba sues partner Western Digital for $1 billion TOKYO—Toshiba Corp.’s future turned even murkier as it filed suit to stop a business partner from blocking the sale of its semiconductor business, meant to plug a gaping financial hole. The struggling conglomerate is racing to raise about $20 billion from the sale to a Japanese-government-led consortium—against the opposition of Western Digital Corp. WDC, -0.87% , which has a stake in the business. Toshiba had aimed to announce a deal by Wednesday with the consortium, which includes South Korean chip maker SK Hynix Inc. 000660, -2.89% , a Western Digital competitor. Instead of announcing the deal agreement, Toshiba 6502, -1.84% TOSYY, -1.51% asked the Tokyo District Court to suspend a legal motion filed by Western Digital to halt the sale, and to award it ¥120 billion ($1.06 billion) in damages. Western Digital, which argues that its joint-venture contract with Toshiba gives it veto power over any sale, had filed the mot
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WDC
Earnings
- 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