California Court Resets Post Trial Hearing in Lexar Media, Inc. v. Toshiba Corporation; Court Date Now Set For May 16, 2005.FREMONT, Calif. -- Lexar Media, Inc. (Nasdaq:LEXR), a leading marketer and manufacturer of high-performance digital media and accessories, today announced that the Court has re-scheduled the April 13, 2005 post-trial hearing to May 16, 2005. At that hearing, the Court will consider Lexar's claim for unfair competition which is based on California Business and Professions Code Section 17200 and follows recent jury verdicts finding Toshiba Corporation (company) Toshiba Corporation - A Japanese technology manufacturer with 364 subsidiaries worldwide. Toshiba makes and sells electronics for home, office, industry and health care including information and communication systems, electronic components, heavy electrical apparatus, (JP:6502) and Toshiba America Electronic Components, Inc. (PNK PNK Polynucleotide Kinase PNK Pontianak, Indonesia - Supadio (Airport Code) PNK Prozessnahe Komponente (German) :TOSBF.PK) liable for $465.4 million in damages for breach of fiduciary duty Noun 1. fiduciary duty - the legal duty of a fiduciary to act in the best interests of the beneficiary legal duty - acts which the law requires be done or forborne and theft of trade secrets. Lexar will also ask the Court for an injunction of Toshiba products that have been found to incorporate Lexar's trade secrets, including Toshiba's large and small block NAND flash See flash memory. chips, as well as Toshiba's CompactFlash, Secure Digital and xD Picture Card products and any other products that contain the same functionality covered by Lexar's trade secrets. Toshiba also has indicated that it will file several motions for consideration by the Court. Lexar expects that the Court will rule on all of the anticipated post-trial motions after the May 16, 2005 hearing. About Lexar Media, Inc. Lexar is a leading marketer and manufacturer of flash memory cards, USB flash drives, card readers and ATA (1) (AT Attachment) The specification for IDE drives. See IDE. (2) See analog telephone adapter. ATA - Advanced Technology Attachment controller technology for the digital photography, consumer electronics, industrial and communications markets. The company holds over 80 issued or allowed controller and system patents, and licenses its technology to companies including Olympus, Samsung Electronics Samsung Electronics (SEC, Hangul:삼성전자; KSE: 005930, KSE: 005935, LSE: SMSN, LSE: SMSD) is a South Korean multinational corporation and the world's largest and leading electronics and information technology company. , SanDisk and Sony. For more information, please call 800-789-9418 or visit www.lexar.com. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those sections. These forward-looking statements include assertions regarding our current litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. with Toshiba, including, among others, statements regarding anticipated timing of hearings and decisions by the Court. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. These risks include: that there is no guarantee regarding the timing and outcome of our current litigation matters, including whether such matters will be resolved in our favor; and that we may become involved in additional litigation that could divert management's time and attention, be time-consuming and expensive to defend and limit our access to important technology. Readers should also refer to the risk factors described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2004, filed with the Securities and Exchange Commission on March 31, 2005. We assume no obligation to update the forward-looking information contained in this news release. Lexar and the Lexar logo are trademarks of Lexar Media, Inc. All other brand or product names are trademarks or registered trademarks of their respective holders. |
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