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| STX > SEC Filings for STX > Form 8-K on 16-Oct-2012 | All Recent SEC Filings |
16-Oct-2012
Regulation FD Disclosure
On October 12, 2012, the Hennepin County District Court of Minnesota (the "Court") vacated in part and confirmed in part the final award in a binding arbitration, concluded in January 2012, between Seagate Technology LLC and Western Digital Corporation, Western Digital Technologies, Inc., and a former Western Digital employee who was previously employed by Seagate. The binding arbitration award found that Western Digital had misappropriated Seagate trade secrets, among other findings, and awarded Seagate $525 million in compensatory damages plus pre-award interest.
The Court has ordered that the matter be set for rehearing in front of an AAA arbitrator.
Seagate is disappointed in the Court's ruling and disagrees with its conclusions. Seagate intends to take all necessary legal action to reinstate the binding arbitration award.
The information in this Current Report on Form 8-K is "furnished" but shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section.
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