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News Breaks | | | | July 5, 2012 | | 06:40 EDT |  | TOSBF | Toshiba fined $87M for LCD price fixing
Toshiba announced that a jury in the U.S. District Court for the Northern District of California has issued a verdict against Toshiba in the amount of $87M due to alleged antitrust practices in the LCD business. Given credits for settlements by other defendants, Toshiba expects that it will not have to pay any damages as a result of this verdict, even after trebling under U.S. antitrust laws. While Toshiba appreciates the jury's time and effort, Toshiba believes that the jury's verdict is in error as to the finding of wrongdoing on Toshiba's part. Toshiba plans to pursue all available legal avenues to correct that finding. At this time, Toshiba does not plan to revise projections for FY12 business performance due to this matter. | |
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News For TOSBF From The Last 14 Days Check below for free stories on TOSBF the last two weeks. |
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| May 20, 2013 | | 05:58 EDT | | TOSBF | Advanced Semiconductor acquires shares of Wuxi Tongzhi for RMB 70M from Toshiba
 Subscribe for More Information | | | May 14, 2013 | | 10:49 EDT |  | TOSBF | Dell accuses optical disk drive makers of price-fixing, Bloomberg says
Subscribe for More Information | | | May 9, 2013 | | 14:55 EDT | | TOSBF | FTC approves modified final order on Western Digital purchase
The Federal Trade Commission approved and issued a modified final decision and order settling charges that Western Digital’s (WDC) proposed acquisition of rival Hitachi Global Technologies would have been anticompetitive in the market for hard disk drives used in desktop PCs. The proposed order settling the FTC’s charges, first announced on March 5, 2012, required Western Digital to sell assets used to manufacture and sell desktop computer hard disk drives to Toshiba (TOSBF) to resolve the agency’s competition concerns. The FTC has approved several modifications to the proposed order to incorporate adjustments that Western Digital and Toshiba Corporation, the buyer of the divested assets, made in the transaction documents. The final order provides for the additional time Western Digital required to complete the divestiture in order to obtain the necessary approvals from other relevant competition authorities and also includes revised production and asset transfer schedules, and extended time in which Western Digital will have access to certain employees. The FTC has also approved changes to the Divestiture Agreement and Contract Manufacturing Agreement to reflect the changes to the remedial agreements made by Western Digital and Toshiba Corporation. | |
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