Key Developments: LG Electronics Inc (LGEAF.PK)
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Latest Key Developments (Source: Significant Developments)
LG Electronics Inc to Merge with Subsidiary
LG Electronics Inc announced that it will merge with its wholly owned subsidiary, V-ENS CO.,LTD., which is mainly engaged in the vehicle designing and other services, to improve synergy and competitiveness. The expected merger effective date is July 1, 2013. Full Article
Rovi Corp And LG Electronics Inc. Expand Relationship With New Multi-Year Worldwide DivX Licensing Agreement
Rovi Corp and LG Electronics announced that they have agreed to renew a multi-year worldwide DivX license. In addition to renewing LG's long-standing support for DivX video playback in LG consumer electronics devices, the agreement also includes the licensing of DivX Plus Streaming for LG mobile devices. Full Article
Hewlett-Packard Co Sells webOS Operating System To LG Electronics Inc-Reuters
Reuters reported that Hewlett-Packard Co said it will sell the webOS operating system to LG Electronics Inc. Under the terms of their agreement, LG acquires the operating software's source code, associated documentation, engineering talent, various associated websites, and licenses under HP's intellectual property including patents covering fundamental operating system and user interface technology. Both companies declined to reveal the terms of the deal. Full Article
LG Electronics Inc Issues FY 2013 Revenue Outlook Below Analysts' Estimates
LG Electronics Inc announced that it expects the revenue for the fiscal year 2013 to record KRW 53.5 trillion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of KRW 56,003.05 million for the fiscal year 2013. Full Article
LG Electronics Inc Declares Annual Cash Dividend for FY 2012
LG Electronics Inc announced that its Board of Directors has declared an annual cash dividend of KRW 200 per share of common stock and KRW 250 per share of preferred stock for the fiscal year 2012 to shareholders of record on December 31, 2012. The dividend rates of market prices are 0.3% (common shares) and 1.2% (preferred shares), respectively. The total cash dividend amount is KRW 36,872,254,700. Full Article
EU Fines LG Electronics Inc. And Other Makers of TV, PC Monitor Tubes EUR1.47 Billion In Cartel Probe-DJ
Dow Jones reported that Philips Electronics NV, Samsung SDI Co., Ltd. and Panasonic Corporation are among a group of seven companies fined EUR1.47 billion ($1.92 billion) by European regulators on Wednesday for operating a two-decade-long cartel in TV and computer monitor tubes. The European Commission said LG Electronics Inc., Philips Electronics NV and Samsung SDI participated in both cartels, while Panasonic, Toshiba Corp, MTPD, a Panasonic subsidiary and Technicolor, formerly Thomson participated only in the cartel for television tubes. Whistle-blower Chunghwa from Taiwan has received full immunity from fines as it was the first company to reveal the cartels' existence. Other companies received reductions of their fines for cooperating in the probe. The Commission said the two cartels were among the most organized cartels that it had investigated. Full Article
WiLan Inc Launches Litigation Against LG Electronics Inc.'s LG Electronics U.S.A., Inc.
WiLan Inc announced that it has initiated litigation claiming patent infringement in the U.S. District Court for the Southern District of Florida against LG Electronics U.S.A., Inc. (LG) and related parties. The suit against LG claims infringement of U.S. Patent Nos. 6,359,654 and 7,034,889 related to digital TV and display technology. WiLAN will be represented by Kilpatrick Townsend & Stockton LLP. Full Article
Whirlpool Corp And LG Electronics Inc Settle Refrigerator Patent Disputes
LG Electronics Inc and Whirlpool Corp announced that they have agreed to settle their respective patent infringement disputes related to refrigerators. This agreement, which concludes years of patent litigation between LG and Whirlpool, will result in the dismissal of three pending patent infringement lawsuits involving several LG and Whirlpool patents in the U.S. District Courts in Delaware and New Jersey. All other terms of the settlement are confidential. Full Article
WiLAN Inc Updates On Litigation With LG Electronics Inc.
WiLAN Inc provided an update related to an important discovery dispute in its litigation against LG Electronics, Inc. and LG Electronics USA, Inc. (collectively, LG). The dispute arose because LG was attempting to compel WiLAN's law firm Kilpatrick Townsend and Stockton LLP to produce a number of documents in WiLAN's litigation with LG that both WiLAN and its law firm considered to be protected by attorney client privilege. The District Court agreed with LG's position and ordered that WiLAN's law firm was compelled to release the documents to LG, whereupon WiLAN's law firm appealed that decision to the United States Court of Appeals for the Federal Circuit (CAFC). On July 13, 2012 the CAFC issued a decision in WiLAN's favour regarding the matter and vacated the order of the lower court that WiLAN was compelled to produce the documents in question to LG. Full Article
Toshiba Corporation, LG Electronics Inc and AU Optronics Corp. To Settle Display Panel Price-Fixing Case-Reuters
Reuters reported that Toshiba Corporation, LG Electronics Inc and AU Optronics Corp. have agreed to pay a combined $571 million to settle a lawsuit over price fixing in the liquid crystal display panel market, according to an attorney for the plaintiffs. Joseph Alioto, a San Francisco attorney who was co-lead counsel for a class of consumers suing the companies, said the amount includes $27.5 million in civil penalties for eight state governments. Seven other LCD manufacturers had reached an earlier settlement for $538.5 million, which was approved on Wednesday by U.S. District Judge Susan Illston. The two settlements mean total recovery for consumers nears $1.1 billion. The class action alleged a detailed conspiracy from 1996 through 2006 to fix LCD prices, resulting in higher prices for buyers of televisions, laptops and other electronics. Full Article
Seoul shares rise on revived foreign buying, autos
SEOUL, May 14 - Seoul shares rose on Tuesday helped by a return in foreign investors and a solid rebound in auto and technology stocks, including Hyundai Motor and LG Electronics.
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