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Boeing Loses $462M ICO Verdict, Will Appeal

CHICAGO --- Boeing Senior Vice President and General Counsel J. Michael Luttig issued the following statement today after a Los Angeles jury rendered a verdict against the company in its defense of a breach of contract suit pressed by ICO Global Communications Holdings Ltd:

"I have directed that an appeal be taken from the decision rendered by the California jury today. That appeal may well take several years to run its course. But there were fundamental errors in the case as it was submitted to the jury. There were fundamental errors in the conduct of the trial. There were fundamental errors in the instructions to the jury and in the court's interaction with the jury during the deliberations. We thus have significant grounds for appeal."

ICO sued Boeing in Los Angeles Superior Court, alleging breach of a satellite network contract. Jury deliberations have continued since Sept. 15. (ends)
Boeing Issues Statement on ICO Verdict