Sanmina Litigation
Jury awarded Sanmina $8.7m damages against Dialight; Dialight won $0.9m counterclaim.
- Damages awarded to Sanmina - AR claim c.$5.3m
- Damages awarded to Sanmina - E&O claim c.$3.4m
- Damages awarded to Dialight $0.9m
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Further to the announcement released on 24 September 2024, Dialight has reviewed the jury verdict and judicial rulings. The jury rejected Dialight's claims relating to fraudulent inducement and wilful misconduct, whilst granting Dialight's claim that Sanmina breached the Manufacturing Services Agreement ("MSA") alongside granting Sanmina's claim that Dialight breached the MSA with respect to Sanmina's accounts receivable ("AR") and 'excess and obsolete' materials ("E&O") claims.
The jury awarded damages of $0.9m to Dialight in respect of Sanmina's breach of contract, and awarded c.$5.3m in damages against Dialight in respect of Sanmina's AR claim and c.$3.4m in damages against Dialight in respect of Sanmina's E&O claim.
The Company is considering potential post-trial motions in respect of the levels of damages, interest payable and legal costs. It is also reviewing its options with regards to appeal.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.