Boeing ordered to cough up $370m
Los Angeles - A Los Angeles jury has ordered Boeing to pay $370m over a contract dispute with a communications company headed by cellular phone pioneer Craig McCaw.
The Superior Court jury reached its decision on Tuesday in favor of ICO Global Communications Holdings, which accused Boeing of breaching a contract to produce satellites.
Virginia-based ICO sued Boeing for around $1.5bn in actual damages. The lawsuit stems from a decade-old plan to launch satellites that would transmit mobile services.
ICO contracted with El Segundo-based Hughes Electronics to build and launch about 12 satellites, but only two of the satellites were finished.
Boeing says it will appeal the decision.