[SatNews] …the court, finding that the jury’s damages award resulted in a miscarriage of justice, vacated in full the $283 million jury verdict against …
The finding came through as stated:
(1) GRANTING DEFENDANT'S MOTION FOR A NEW TRIAL ON DAMAGES; AND
(2) DENYING AS MOOT PLAINTIFF'S MOTION FOR PREJUDGMENT AND POSTJUDGMENT INTEREST
[DOC. NOS. 966, 1036, 1040, 1042, 1046, 1059]
NEW YORK, August 11, 2014 – Loral Space & Communications Inc. (Nasdaq:LORL) today announced that the trial court on August 8, 2014 issued decisions on the post-trial motions filed in the breach of contract and patent infringement lawsuit brought by ViaSat, Inc. (ViaSat) against Loral and Loral’s former subsidiary, Space Systems/Loral, LLC (SSL).
In its decisions, the court, finding that the jury’s damages award resulted in a miscarriage of justice, vacated in full the $283 million jury verdict against SSL. The court ordered that a new jury trial be held on the amount of damages and has tentatively scheduled the trial to proceed in November 2014. The court deferred, until August 26, 2014, argument on ViaSat’s motion seeking an injunction to prevent the manufacture and sale by SSL of additional satellites that infringe ViaSat’s patents.
“We are pleased with the court’s decision, as it is an important first step in rectifying the injustice resulting from the April 2014 trial,” said Michael B. Targoff, Vice Chairman of Loral. “Not only do we believe that the jury’s damages award was excessive, but we contnue to believe that we have strong grounds for challenging the jury’s liability findings on appeal."
Loral Space & Communications is a satellite communications company. Loral owns 62.8 percent of Telesat Canada, a global operator of telecommunications and direct broadcast satellites used to distribute video entertainment programming, broadband data, and provide access to Internet services and other value-added communications services. For more information, visit Loral’s web site here.
