Dialight PLC Sanmina Litigation (2694Y)
January 02 2024 - 1:00AM
UK Regulatory
TIDMDIA
RNS Number : 2694Y
Dialight PLC
02 January 2024
Dialight plc ("Dialight")
Sanmina litigation
Further to announcements made on 15 March 2023 (in respect of
the ruling on Sanmina's dismissal motion) and on 29 November 2023
(in respect of the ruling on Sanmina's motion for reconsideration),
Dialight confirms that both judgments have now been fully released
by the court and are available at https://ecf.nysd.uscourts.gov .
They are also available on Dialight's corporate website at
www.dialight.com/ir/shareholder-information/sanmina-litigation/.
In the First Judgment, the court denied Sanmina's motion to
dismiss Dialight's fraudulent inducement claim and denied its
motion for summary judgment on Sanmina's accounts receivable claim.
In the Second Judgment, the court affirmed its prior opinion and
denied Sanmina's motion for summary judgment on its accounts
receivable claim.
Dialight's fraudulent inducement claim, together with various
claims and counter-claims relating to excess and obsolete
inventory, accounts receivable and accounts payable, will now
proceed to trial, and Dialight will continue to rigorously pursue
its claims.
If Dialight's claims are successful at trial, the range of
outcomes includes the payment by Sanmina to Dialight of between $0
and c. $220m (excluding legal costs and judicial interest). If
Sanmina's claim is successful at trial the range of outcomes could
include the payment by Dialight to Sanmina of between $0m and $8.3m
(excluding legal costs and judicial interest).
Contacts:
Dialight plc
Tel: +44 (0)203 058 3542
Fariyal Khanbabi - Group Chief Executive
Richard Allan - General Counsel & Company Secretary
About Dialight:
Dialight (LSE: DIA.L) is a global leader in sustainable LED
lighting for industrial applications. Dialight's LED products are
providing the next generation of lighting solutions that deliver
reduced energy consumption and create a safer working environment.
Our products are speci cally designed to provide superior
operational performance, reliability and durability, reducing
energy consumption and ongoing maintenance and achieving a rapid
return on investment. The company is headquartered in the UK with
operations in Australia, Dubai, Germany, Malaysia, Mexico,
Singapore, the UK and the USA. www.dialight.com.
Notes:
1. This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 (which forms
part of domestic UK law pursuant to the European Union (Withdrawal)
Act 2018) and is disclosed in accordance with the Company's
obligations under Article 17 of those Regulations. On the
publication of this announcement via a Regulatory Information
Service ("RIS"), this information is considered to be in the public
domain.
2. The person responsible for making this announcement is
Richard Allan, General Counsel & Company Secretary of Dialight
plc
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END
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