A jury in the United States District Court for the Northern District of California (San Francisco) issued a verdict against Toshiba Corp. in the amount of US$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.
This class action was filed in 2007.
Toshiba has consistently maintained that there was no illegal activity on its part in the LCD business in the United States, and Toshiba continues to hold that view. 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. Toshiba plans to pursue all available legal avenues to correct that finding.
At this time, Toshiba does not plan to revise projections for fiscal 2012 business performance due to this matter.