ICO Global withdrew its petition for review from the California Superior...
ICO Global withdrew its petition for review from the California Superior Court for Los Angeles County concerning its litigation against Boeing Satellite Systems International. The action follows a settlement agreement the companies reached “to which Boeing waived its right to…
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appellate court costs and agreed to pay $10 million to ICO,” said Pendrell, ICO’s parent company. The California court overturned a 2008 ruling that held Boeing liable for concealment and misrepresentation around development of the Delta III satellite and awarded ICO $603 million (CD May 7 p13). ICO requested further review of the case last month. Pendrell “anticipated several years of additional litigation with Boeing relating to its attempt to recover costs from ICO,” Pendrell said: The settlement is in ICO’s best interests.