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Western Digital Comments on Toshiba's Announcement Regarding Flash JV Interests
Toshiba Corporation continues to ignore both SanDisk's consent rights and the dual-track legal process currently underway. The language of the relevant agreements is clear: Toshiba Corporation has no right to transfer its JV interests to a third party without SanDisk's consent. SanDisk has not given its consent to any transaction, and will continue to protect its JV interests and preserve its rights through both its request for injunctive relief and the arbitration process.
We note that Toshiba has acknowledged and validated SanDisk's consent
rights on multiple occasions. Furthermore, certain parties identified in
Toshiba's announcement have previously been notified by
On
We remain confident in our consent rights and our legal position and
look forward to the hearing for injunctive relief, which is scheduled
for
About
Forward-Looking Statements
This news release contains certain forward-looking statements, including
statements concerning the Flash JVs, SanDisk's rights under the JV
agreements and Western Digital's or SanDisk's actions in response to
Toshiba's announcement that it has declared a preferred bidder regarding
the sale of Toshiba's interests in the Flash JVs. There are a number of
risks and uncertainties that may cause these forward-looking statements
to be inaccurate including, among others: uncertainties with respect to
the company's business ventures with Toshiba; volatility in global
economic conditions; business conditions and growth in the storage
ecosystem; impact of competitive products and pricing; market acceptance
and cost of commodity materials and specialized product components;
actions by competitors; unexpected advances in competing technologies;
our development and introduction of products based on new technologies
and expansion into new data storage markets; risks associated with
acquisitions, mergers and joint ventures; difficulties or delays in
manufacturing; and other risks and uncertainties listed in the company's
filings with the
View source version on businesswire.com: http://www.businesswire.com/news/home/20170620006631/en/
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