Monday, July 31, 2017

WD Comments On Superior Court Of California’s Order

Western Digital Corp. today issued the following statement regarding the order of the Superior Court of California for the County of San Francisco (“the Court”):
  • Following the directive of the Court at the July 14, 2017 hearing, Toshiba has entered into an agreement with Western Digital’s SanDisk subsidiaries preventing Toshiba from closing any transfer of its JV interests without providing at least 14 days’ advance notice to SanDisk.

  • The agreement, which has been officially entered by the Court as an order, protects SanDisk’s JV interests and preserves SanDisk’s consent rights until SanDisk’s request for further injunctive relief can be heard by the ICC International Court of Arbitration.

  • As part of the agreement, and consistent with the tentative ruling by the Court on July 27, 2017, Toshiba has accepted the Court’s jurisdiction over Toshiba for purposes of enforcing this order.

  • Our goal has always been to protect and preserve the health and future of our successful joint ventures. Our ongoing discussions with Toshiba and its stakeholders have been constructive, and we will continue to work to seek a solution that is in the best interests of all parties.