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PRESS RELEASE: Toshiba Responds to the Jury Verdict in a U.S. Trade Secret Lawsuit for NAND Flash Memory Technologies
25 March, 2005 -- Tokyo -- Toshiba Corporation announced today that a jury in the California Superior Court in San Jose found Toshiba and its U.S. subsidiary, Toshiba America Electronic Components, Inc. (TAEC), liable for US$465 million due to alleged NAND flash-related trade secret misappropriation and related misconduct.
Toshiba believes that the verdict rendered by the jury was in error, and we plan to pursue all available legal avenues to correct it. Toshiba invented NAND flash memory technologies and has been a pioneer throughout its development. At this time, Toshiba does not plan to revise projections for fiscal 2004 business performance due to this matter.
Flash memory remains a strategic product for Toshiba, and one in which Toshiba owns the original technologies. Toshiba will continue to strongly promote its NAND flash business.
(First posted on Friday, March 25, 2005 at 20:13 EST)