Western Digital Comments on Superior Court of California’s Order
July 28 2017 - 7:31PM
Business Wire
Western Digital Corp. (NASDAQ: WDC) today issued the following
statement regarding the order of the Superior Court of California
for the County of San Francisco (“the Court”):
Following the directive of the Court at the
July 14, 2017 hearing, Toshiba has entered into an agreement with
Western Digital’s SanDisk subsidiaries preventing Toshiba from
closing any transfer of its JV interests without providing at least
14 days’ advance notice to SanDisk.
The agreement, which has been officially
entered by the Court as an order, protects SanDisk’s JV interests
and preserves SanDisk’s consent rights until SanDisk’s request for
further injunctive relief can be heard by the ICC International
Court of Arbitration.
As part of the agreement, and consistent with
the tentative ruling by the Court on July 27, 2017, Toshiba has
accepted the Court’s jurisdiction over Toshiba for purposes of
enforcing this order.
Our goal has always been to protect and
preserve the health and future of our successful joint ventures.
Our ongoing discussions with Toshiba and its stakeholders have been
constructive, and we will continue to work to seek a solution that
is in the best interests of all parties.
About Western Digital
Western Digital is an industry-leading provider of storage
technologies and solutions that enable people to create, leverage,
experience and preserve data. The company addresses ever-changing
market needs by providing a full portfolio of compelling,
high-quality storage solutions with customer-focused innovation,
high efficiency, flexibility and speed. Our products are marketed
under the HGST, SanDisk and WD brands to OEMs, distributors,
resellers, cloud infrastructure providers and consumers. Financial
and investor information is available on the company's Investor
Relations website at investor.wdc.com.
Forward-Looking Statements
This news release contains certain forward-looking statements,
including statements concerning the JVs, SanDisk's rights under the
JV agreements, its actions to protect such rights, and ongoing
proceedings with respect to those rights. There are a number of
risks and uncertainties that may cause these forward-looking
statements to be inaccurate including, among others: uncertainties
with respect to the company's business ventures with Toshiba;
volatility in global economic conditions; business conditions and
growth in the storage ecosystem; impact of competitive products and
pricing; market acceptance and cost of commodity materials and
specialized product components; actions by competitors; unexpected
advances in competing technologies; our development and
introduction of products based on new technologies and expansion
into new data storage markets; risks associated with acquisitions,
mergers and joint ventures; difficulties or delays in
manufacturing; and other risks and uncertainties listed in the
company's filings with the Securities and Exchange Commission (the
"SEC"), including the company's Form 10-Q filed with the SEC on May
8, 2017, to which your attention is directed. You should not place
undue reliance on these forward-looking statements, which speak
only as of the date hereof, and the company undertakes no
obligation to update these forward-looking statements to reflect
subsequent events or circumstances.
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version on businesswire.com: http://www.businesswire.com/news/home/20170728005804/en/
Western Digital Corp.United
StatesMedia Contact:Jim
Pascoe408.717.6999jim.pascoe@wdc.comorInvestor Contact:Bob
Blair949.672.7834robert.blair@wdc.comorJoele Frank, Wilkinson
Brimmer KatcherEric Brielmann / Jed Repko / Ed Trissel415-869-3950
/ 212-355-4449wdcmedia@joelefrank.comorJapanMedia Contacts:Emi
Hatano090-5765-9730emi.hatano@sandisk.comorAshton ConsultingJohn
Sunley / Brendan Jennings03 5425-7220 / 090ー7416-0180 / 050
7576-6190WDC_JapanPR@ashton.jp
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