Lexar wins in Court against Toshiba - Shares Double

Mar 24 2005, 11:39am EST | by Luigi Lugmayr

In a Trial Toshiba was found liable of breach of fiduciary duty and theft of trade secrets and awarded Lexar over $380 million in damages.

The law-suit is about trade-secrets aroudn NAND flash memory technology. Based on the jury's verdict and findings, Lexar intends to ask the Court for an injunction that bars the sale of Toshiba's products in the United States. Lexar says it will ask that the injunction include products that have been found to incorporate Lexar's trade secrets, including Toshiba's large and small block NAND flash chips, its CompactFlash, Secure Digital and xD Picture Card products.

Update: 03/26/05:
Damage payment increased to $465.4 mio. and Toshiba fights verdict. More on EETimes.

More details in Lexar press-release. (Thanks Ken).

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.