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Electronics Production |
Seiko Epson settles with Nokia
Seiko Epson has agreed to settle for USD 80 million civil lawsuits filed against it in the United States and United Kingdom by Nokia Corporation of Finland and its subsidiaries seeking damages stemming from purchases of liquid crystal displays.
In November 2009, Nokia filed lawsuits in the United States and United Kingdom against Epson and its subsidiary companies including Epson Imaging Devices Corporation alleging violations of antitrust and competition laws.
Epson has denied liability and vigorously defended the lawsuits.
Because of the ongoing impacts of the lawsuits on its business and the expense of continuing litigation, however, the company has determined that settlement of the litigation is in Epson's best interests.
Epson will pay Nokia the sum of US$80 million in full settlement of Nokia's claims, and Nokia will discontinue all related lawsuits filed against Epson and its global affiliates.
