AVX Corporation Announces Jury Verdict in Intellectual Property Lawsuit
January 27 2016 - 8:30AM
Business Wire
AVX Corporation (NYSE: AVX) today reported a jury verdict in a
patent infringement case filed in the United States District Court
for the District of Delaware captioned Greatbatch, Inc. v AVX
Corporation.
Despite AVX’s defense that it had not violated Greatbatch’s
patents for the particular products in question, a jury recently
found that Greatbatch incurred damages totaling $37.5 million.
It is expected that AVX’s financial results for the quarter
ended December 31, 2015 reported in its Form 10-Q to be filed with
the U.S. Securities and Exchange Commission in early February will
reflect an additional pre-tax accrual of $33.5 million in
connection with this case (in addition to accruals reflected in the
Company’s quarterly earnings release issued on January 26,
2016).
AVX is reviewing the verdict and consulting with its legal
advisors on what action AVX may take in response.
AVX, headquartered in Greenville, South Carolina, is a leading
manufacturer and supplier of a broad line of passive electronic
components and related products.
Please visit our website at www.avx.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160127005705/en/
AVX Corporation, GreenvilleKurt Cummings,
864-967-9303investor.relations@avx.com
AVX (NYSE:AVX)
Historical Stock Chart
From Mar 2024 to Apr 2024
AVX (NYSE:AVX)
Historical Stock Chart
From Apr 2023 to Apr 2024