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Satnews Daily
June 28th, 2012

Boeing + ICO Global... Case Closed (Business)

[SatNews] ICO Global Communications Ltd. announced this week that Boeing Co. has agreed to pay...

...$10 million and waive appellate legal costs. The move averted a protracted battle to win review by the California Supreme Court. The initial lawsuit stems from ICO's decade-old plan to launch a fleet of satellites that would provide mobile telephone and Internet service. Chicago-based Boeing had the contract for the project, but it was never completed. ICO sued for breach of contract and a Los Angeles jury awarded $603 million in 2008. An appellate court later reversed the award in its entirety, favoring Boeing. ICO is a subsidiary of Kirkland, Wash.-based Pendrell Corp. (Source: Seattle Post Intelligencer).