Western Digital Notes Court’s Decision to Extend TRO until Court Orders Preliminary Injunction
August 04 2017 - 9:39PM
Business Wire
Western Digital Corp. (NASDAQ: WDC) announced following a court
hearing today that the Superior Court of California for the County
of San Francisco (the “Court”) decided to extend the temporary
restraining order (“TRO”) that the Court had granted on July 11,
2017, in favor of Western Digital’s SanDisk subsidiary, pending
entry of a preliminary injunction. SanDisk is seeking the
preliminary injunction enjoining Toshiba Corporation (“Toshiba”)
from prohibiting certain employees from accessing shared databases
and from refusing to ship certain engineering wafers and samples to
ensure the uninterrupted operations of the JVs.
Western Digital stated:
We are pleased with the success we have had
in both the Superior Court of California and the California Court
of Appeal and the momentum we have heading into arbitration.
Western Digital remains confident that SanDisk will succeed on
the merits of the arbitration requests filed on May 14, 2017 and
July 5, 2017, and those cases continue to move forward in the ICC
International Court of Arbitration. Furthermore, on July 28, 2017,
the Court entered a stipulated order preventing Toshiba from
closing any transfer of its JV interests without providing at least
14 days’ advance notice to SanDisk.
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 and 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.
Western Digital, WD and SanDisk are registered trademarks or
trademarks of Western Digital Corporation or its affiliates in the
U.S. and/or other countries. Other trademarks, registered
trademarks, and/or service marks, indicated or otherwise, are the
property of their respective owners. © 2017 Western Digital
Corporation or its affiliates. All rights reserved.
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version on businesswire.com: http://www.businesswire.com/news/home/20170804005748/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
/ 212-355-4449wdcmeda@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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