ICO Awarded Additional Damages in Boeing Case
[Satellite Today 11-03-08] ICO Global Communications was awarded $236 million in punitive damages by a Los Angeles Superior Court jury in its case against Boeing Co. and its Boeing Satellite Services International subsidiary, ICO announced Oct. 31.
The $236 million award is in addition to the at least $371 million awarded to ICO earlier in October 2008, when the jury found Boeing liable for fraud, tortious interference, and breach of contract.
The court said it will also determine the amount of pre-judgment interest to be added to the award, which ICO said it expects to be approximately $100 million. The total expected judgment to be entered against Boeing in favor of ICO is approximately $707 million.
While Boeing has said it will appeal the court’s initial verdict, it has not determined if it will appeal the court’s recent decision.
For more details on the ICO v. Boeing Co. case and how an appeal may affect ICO’s S-band application timetable, subscribe to Satellite News and read our exclusive feature. Visit www.satellitetoday.com/VIP for more details.