Monday, November 21, 2011

WD Hit By $525M Arbitration Award To Seagate

Irvine-based disk drive manufacturer Western Digital reported this morning that an arbitrator has awarded Seagate $525M from the firm, in a confidential arbitration action in Minnesota. WD said the effort involves claims brought by Seagate Technology LLC against WD and one of its former employees, who was formerly employed by Seagate, alleging misappropriation of confidential information and trade secrets. WD said that the firm does not believe there is "any basis in law or fact for the damage award of the arbitrator" and that it will "vigorously challenge the award."

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