Seiko Epson to Pay $80M to Settle Nokia’s U.S., U.K. Lawsuits
Seiko Epson will incur an extraordinary loss in its third quarter because of the settlement, the Nagano, Japan-based company said in a Tokyo Stock Exchange filing today. The settlement, relating to suits over supplies of liquid-crystal displays, won’t alter the full-year earnings forecast, according to the statement.
Yuzo Okada, a spokesman for Seiko Epson, declined to comment on a possible date for the settlement transaction.
Seiko Epson fell 0.7 percent to 1,017 yen at the close in Tokyo trading. The stock has lost 31 percent this year, compared with a 17 percent drop by the Nikkei 225 Stock Average.
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