JDS Uniphase Trial Enters Final Week
The trial in the JDS Uniphase securities litigation (previously discussed here) has reportedly entered its final week. As discussed in this Mercury News blog post, the trial—the rarest of occurrences in securities class actions–is reaching its conclusion and a jury verdict is expected sometime after Thanksgiving.
The article notes that JDS’ latest Form 10-Q discloses (see page 6) that
Plaintiffs have stated in recent court filings that they intend to seek a verdict of more than $20 billion in alleged damages. Plaintiffs’ expert witness on damages has generally testified to that effect in the pending jury trial. While there are many potential outcomes of the pending trial, in the event of a final, non-appealable and enforceable judgment against the Company that is in an amount commensurate with the Plaintiffs’ maximum theory of damages, it would not have sufficient assets to pay such a judgment.
