Boeing Pays $10M To Settle ICO Satellite Contract Fight

Law360, New York (June 25, 2012, 10:23 PM EDT) -- A Boeing Co. unit has agreed to pay $10 million to settle a dispute with ICO Global Communications Ltd. over two satellite contracts that at one point had resulted in a $603 million jury verdict against Boeing, ICO's parent Pendrell Corp. said Monday.

ICO withdrew its petition asking the California Supreme Court to take a look at a lower appeals court's decision overturning the $603 million jury verdict against Boeing Satellite Systems International Inc.

Under the terms of the settlement, Boeing waived its right to appellate...
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