U.S. Dist. Court, L.A., denied DirecTV motion for partial summary...
U.S. Dist. Court, L.A., denied DirecTV motion for partial summary judgment in case relating to right of first refusal (ROFR) in lawsuit filed by affiliates and National Rural Telecom Cooperative, Pegasus TV said Tues. Tentative order denied DirecTV motion…
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that sought to limit rights to programming services and transponder capacity that company believes are included in ROFR. Pegasus said it expected court to issue final order shortly and said “certain parties may have materially misstated the tentative decision of the court for purpose of manipulating Pegasus stock.” Company said it would inform Nasdaq of possible violations. It was unclear whom Pegasus would direct charges against, but satellite analyst William Kidd of C.E. Unterberg, Towbin, released report citing industry analysis in SkyReport to its investors Tues. that said “the court might be leaning toward DirecTV.” Report said court might deny summary judgment, but endorse DirecTV’s “interpretation of survivability” in coming weeks. “Even if the court denies DirecTV’s summary judgment allowing a long protracted legal war” to begin, “we believe the court’s leanings can’t be considered favorable for Pegasus.” Kidd said companies still had time to come to diplomatic resolution of problems.