Hard drive maker Western Digital said today that a judgment was rendered against it late last week in an arbitration action brought by Seagate Technology .
An arbitration award of $525 million was rendered against Western Digital
) in the confidential arbitration action. The award does not include prejudgment interest, which will be determined later.
Seagate brought claims against Western Digital and an employee who formerly worked at Seagate, alleging misappropriation of confidential information and trade secrets.
Western Digital's CEO said he believes his company acted properly at all times and will challenge the award.
The ruling does not affect the company's planned acquisition of Hitachi
) unit Hitachi GST, he noted.
Market News Video produces and distributes online videos about stocks and investing.