ICO Wins Lawsuit Judgment Against Boeing
[Satellite News 10-22-08] ICO Global Communications has been awarded at least $371 million plus interest in its breach of contract lawsuit filed against Boeing Co. and Boeing Satellite Systems International.
After weeks of deliberation, a Los Angeles Superior Court jury found that Boeing acted against ICO with malice, oppression or fraud, awarding ICO $279 million for breach of contract and fraud with regard to satellite pricing and $91.6 million for fraud with regard to launches. The jury also awarded ICO $91.6 million against Boeing for tortious interference.
Boeing contends the entire suit constitutes $371 million, while ICO argued that the awards were separate and totaled $462 million. The court will hear evidence and argument Oct. 28 to determine the amount of punitive damages to be awarded to ICO and how it will be paid out.
Boeing has said it plans to appeal the verdict.