US: Hutchinson cooperating with DOJ in hard drive investigation

On July 26, 2016, Hutchinson Technology Incorporated received a letter from the Antitrust Division of the U.S. Department of Justice stating that the DOJ has opened an investigation relating to the sale of suspension assemblies for use in HDDs.

The DOJ’s letter stated that neither HTI nor any HTI employee is currently a subject of the DOJ investigation, but that the company may have documents and electronic information relevant to its investigation. HTI intends to cooperate with the DOJ’s investigation.

In regards to the Federal Trade Commission’s review of the pending merger, HTI and TDK Corporation are providing additional information to the FTC and working cooperatively with the agency to move the review forward. The FTC has not indicated when the review may be completed and it was also announced that subject to certain conditions, the merger agreement may be terminated by either company if the merger has not been consummated on or before November 1, 2016.

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