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LPL » Topics » Rental Contract with LG Electronics Inc.

This excerpt taken from the LPL 6-K filed May 15, 2008.

Rental Contract with LG Electronics Inc.

On January 1, 2008, the AM-OLED business was transferred from LG Electronics Inc. to the Company, mainly the related patents and employees. LGD entered into an annual contract to rent manufacturing facilities (land, buildings and machinery) from LG Electronics Inc.

 

(b) Contingencies

As of March 31, 2008, LGD is involved in several legal proceedings and claims arising in the ordinary course of business. The Company’s management does not expect that the outcome in these legal proceedings and claims, individually or collectively, will have any material adverse effect on the Company’s financial condition, results of operations or cash flows.

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