A jury in a California federal court ruled on October 18, 2024, that data storage provider Western Digital must pay $315.7 million in damages. The verdict found the company liable for violating a patent owner's rights in data security technology.
The legal proceeding involved claims of infringement related to data security technology. This substantial damage award represents a significant financial obligation for Western Digital.
The company is expected to evaluate the appropriate accounting treatment for this matter. The financial information reported in its Q1 FY25 earnings release did not include any impact related to these developments, pending completion of that assessment.
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