Big Law

Microsoft’s insurer fails to recoup $175M in Xbox One chip damages

Microsoft’s captive insurer, Cypress Insurance, has failed in its attempt to recoup $175 million from chip manufacturer SK Hynix, following a federal jury decision in a breach of contract lawsuit in the Seattle.

The lawsuit, which was filed in the US District Court for the Western District of Washington in Seattle, began in 2016, when Cypress, the Arizona-based captive insurer of Microsoft and its subsidiaries, sued SK Hynix in a breach of contract suit to recoup the $175 million that had been paid by insurers to Microsoft.

Read the source article at Stock Market Quotes and News

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