LOS ANGELES -- A global communications company has settled its multi-million-dollar lawsuit against Boeing over a failed effort to launch a fleet of satellites.
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.
