ICO wins $707M in Boeing court battle
November 4 2008 - 12:23 pm ET | Jeffrey Silva | RCR Wireless News
ICO Global Communications said a Los Angeles Superior Court jury verdict could force Boeing Co. to pay up to $707 million in damages in a lawsuit brought by the mobile satellite service company.
“We appreciate the sacrifices made by the jury in performing their civic duty over this lengthy trial,” said J. Timothy Bryan, CEO of ICO. “ICO’s attention now turns to collecting all of the damages awarded, including all of the substantial post judgment interest which will accrue to ICO from the date of the judgment should Boeing pursue an appeal.”
ICO said the jury found the Boeing Satellite Services International subsidiary liable for fraud, tortuous interference and breach of contract. The trial began on June 16.
Boeing was immediately available for comment.
Reston, Va.-based ICO, led by cellular pioneer Craig McCaw, is deploying a mobile interactive media service known as ICO mim. The company said the service will combine ICO’s interactive satellite capability with nationwide coverage to deliver improved navigation, enhanced roadside assistance and advanced mobile video service, including 10-15 live channels of premium television content.
