Toshiba Corp. (TOSBF.PK) announced that a jury in the United States District Court for the Northern District of California (San Francisco) has issued a verdict against the company in the amount of $87 million 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.
The company stated that it has consistently maintained that there was no illegal activity on its part in the LCD business in the United States, and it continues to hold that view. While Toshiba appreciates the jury's time and effort, the company believes that the jury's verdict is in error as to the finding of wrongdoing on Toshiba's part. Toshiba intends to pursue all available legal avenues to correct that finding.
The company noted that at this time, it does not plan to revise projections for fiscal 2012 business performance due to the above matter.
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by RTT Staff Writer
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