Shame, Shame on Toshiba
Why aren’t you disclosing to your shareholders the significant pending lawsuit of PTSC v. Fujitsu, et al?? I believe your shareholders at least deserves a responsive explanation to this particular lawsuit.
2005 Toshiba Annual Report, Risk Factors Relating to the Toshiba Group and its Business, Page 11, Section (1) Lawsuits:
“The group undertakes global business operation, and is involved in disputes, including lawsuits, in several areas. Due to differences in judicial systems it is possible that the Group may be subject to a court ruling requiring payment of amount far exceeding expectations, and/or a factor that results in significant difficulty in estimating potential costs of judgments. Judgments unfavorable to the Group in disputes may operations and the Group’s financial condition.
“In March 2005, a jury in the California Superior Court found the Company and its U.S. subsidiary, Toshiba America Electronic Components, Inc., liable for US $465 million for misappropriation of NAND Flash-related trade secrets and related misconduct, as alleged by Lexar Media, Inc. The Company believes that the verdict rendered by the jury was in error and plans to pursue all available legal avenues to correct it.”
This Japanese Company believes the verdict rendered by an American jury was in error - yeah right!! And now they will pursue all available legal avenues to correct it - yeah right !! Hey pal, you’re gonna have to go through the American Judicial Chain of Appeals, not the Japanese Court of Appeals - Good luck bud. But before you do that, please keep in mind, that you still have a pending lawsuit w/PTSC & TPL which you have failed to disclose to your valuable shareholders and that your subsidiary is on American soil and doing business with the #1 consumer in the world - The Americans.
The price of doing business in America has gone up Toshiba. Settle NOW with PTSC & TPL or face the consequences of going through another lengthy trial with more money at stake.
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