Toshiba And Micron Agree To Settle All Pending Lexar Litigation

Tokyo & Boise, ID - Toshiba Corporation and Micron Technology, Inc., recently announced they have entered into agreements where Toshiba will purchase certain of Micron's semiconductor technology patents and license patents previously owned by Lexar Media, Inc. in exchange for payments totaling $288M.

The agreements settle all outstanding NAND flash memory-related litigation between Toshiba Corporation, its subsidiaries and Lexar Media, Inc., which Micron acquired in June. As a result of the license and purchase agreements, the litigation pending between Toshiba and Lexar in the Northern District of California U.S. District Court, the International Trade Commission (ITC) and California Court of Appeals will be dismissed.

"We appreciate that Micron approached this issue in a positive spirit that allowed the parties to work together to bring all outstanding litigation and claims to a full and final resolution," said Masashi Muromachi, corporate executive vice president of Toshiba Corporation and president & CEO of Toshiba's Semiconductor Company. "Going forward, we will continue to contribute to the growth and development of the NAND flash industry."

"We have enjoyed a strong relationship with Toshiba for a number of years, have the highest respect for Toshiba as an innovator in flash technology and see no merit in continuing to pursue this litigation," said Steve Appleton, Micron chairman, CEO and president.

SOURCE: Toshiba Corporation and Micron Technology, Inc.