Brief: Vestel Elektronik Says Dutch Court Decides That TTD International S.A.S and TDP SP. Z.O.O To Pay A Compensation Worth EUR 684.4 Mln To Vestel
06/02/2024 05:28
Feb 6 (Reuters) - VESTEL ELEKTRONİK SANAYİ VE TİCARET
VESTL.IS :
* SAID ON MONDAY DUTCH EAST BRABANT REGIONAL COURT DECIDES
THAT
TTD INTERNATIONAL S.A.S AND TDP SP. Z.O.O. WERE ORDERED TO PAY
VESTEL A COMPENSATION IN THE AMOUNT OF EUR 684.4 MILLION
* DECISION OF DUTCH FIRST INSTANCE COURT AND AMOUNTS
SPECIFIED IN
COURT DECISION HAVE NOT BEEN FINALIZED YET, AND PARTIES HAVE A
RIGHT TO OBJECT TO DECISION
* VESTEL ELEKTRONİK, İTS WHOLLY-OWNED SUBSIDIARY VESTEL
TİCARET
AND VESTEL'S RELEVANT FOREİGN SUBSİDİARIES,ACTING AS PLAINTIFFS,
HAVE İNİTİATED A COMPENSATION LAWSUİT IN THE AMOUNT OF EUR 2.05
BILLION ARİSİNG FROM COMPETITION LAWS, AGAİNST SAMSUNG, LG GROUP
COMPANIES, TECHNICOLR S.A., TTD INTERNATIONAL S.A.S AND TDP SP.
Z.O.O WHICH ARE ACTİNG AS DEFENDANTS
* THE DUTCH EAST BRABANT REGIONAL COURT HAS RENDERED A
DECISION
WHEREBY IT PARTİALLY ACCEPTED AND PARTIALLY REJECTED VESTEL
ELEKTRONIK COMPENSATION CLAİM
* ACCORDING TO THE COURT DECISION, TWO DEFENDANTS (TTD
INTERNATIONAL S.A.S AND TDP SP. Z.O.O.) WERE ORDERED TO PAY
VESTEL A COMPENSATION IN THE AMOUNT OF EUR 684.4 MILLION;
WHEREAS THE CASE WAS REJECTED FOR THE OTHER DEFENDANTS
* VESTEL ELEKTRONIK WILL EXERCISE ITS RIGHT TO APPEAL
AGAINST THE
PART OF DECISION RULED AGAINST OUR COMPANY WITHIN THE LEGAL
PERIOD
Source text for Eikon: urn:newsml:reuters.com:*:nIKA442wR2
Further company coverage: VESTL.IS
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