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Final judgment affirms $465M award for Lexar California's Superior Court Friday affirmed the $465 million jury verdict delivered in March, entering final judgment in the Lexar Media Inc. versus against Toshiba Corp. and Toshiba America Electronic Components Inc. The trial court jury awarded Fremont-based Lexar (NASDAQ:LEXR) over $465 million in damages based on Toshiba Corp. and Toshiba America Electronics Components' breach of fiduciary duty and theft of trade secrets from Lexar. The $465 million award is the third largest intellectual property verdict in U.S. history. Toshiba has filed numerous motions challenging the verdict. As late as this week, Toshiba filed an emergency appeal asking the court of appeals to review the case and to delay the entry of judgment. That request was immediately denied. Lexar is also pursuing an ongoing case against Toshiba in the Federal Court for the Northern District of California, accusing the Japanese electronics giant of patent infringement. Lexar is seeking damages as well as an injunction against Toshiba for products that infringe Lexar's patents, including its flash memory chips, flash cards and digital cameras and USB flash drives. Lexar expects that a trial will take place on one of the patent actions in late 2006. The company holds over 87 issued or allowed controller and system patents. Lexar licenses its technology to companies including Olympus Corp. (OTCB:OCPNF), Samsung Electronics, SanDisk (NASDAQ:SNDK) and Sony Corp. (NYSE:SNE).
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