Western Digital’s SanDisk Subsidiaries Obtain Court Protection Against Toshiba in Preliminary Injunction Hearing

15-Jul-2017 Intellasia | BusinessWire | 7:18 AM Print This Post

SAN JOSE, Calif.–(BUSINESS WIRE)–Western Digital Corp. (NASDAQ: WDC) today announced that the Court of
California for the County of San Francisco (“the Court”) directed
Toshiba Corporation (“Toshiba”) not to transfer its interests in its
three NAND flash-memory joint ventures (“the JVs”) operated with Western
Digital’s SanDisk subsidiaries without specified advance notice to
SanDisk, in order to ensure that the issue is preserved for arbitration.
Today’s hearing was held in connection with the preliminary injunctive
relief proceedings sought by SanDisk related to Toshiba’s attempts to
transfer its JV interests.

Steve Milligan, chief executive officer of Western Digital, stated, “We
are grateful for today’s directive by the Court, which is a victory for
Western Digital, SanDisk and our stakeholders. Our entire goal was to
preserve and protect our rights through the binding arbitration process,
and that’s precisely what the Court has done today. This is the second
time this week that the Court has acted to protect SanDisk’s rights and
interests against Toshiba.”

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.

Contacts

United States
Media Contact:
Jim
Pascoe
408-717-6999
jim.pascoe@wdc.com
or
Investor
Contact:
Bob Blair
949-672-7834
robert.blair@wdc.com
or
Joele
Frank, Wilkinson Brimmer Katcher
Eric Brielmann / Jed Repko / Ed
Trissel
415-869-3950 / 212-355-4449
wdcmedia@joelefrank.com
or
Japan
Media
Contacts:
Emi Hatano
090-5765-9730
emi.hatano@sandisk.com
or
Ashton
Consulting
John Sunley / Brendan Jennings
03 5425-7220 /
090-7416-0180 / 050 7576-6190
WDC_JapanPR@ashton.jp

 


Category: BusinessWire, PRAsia

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