ICO Global Communications (Operations) Ltd. (“ICO”), a subsidiary of Pendrell Corporation, was notified that its petition for rehearing filed on May 1 with Division 8 of the California 2nd District Court of Appeal (the “Court”) in its litigation with The Boeing Company and certain of its subsidiaries was denied. The Court also denied ICO’s request for publication of the Court’s opinion. The denials were issued by the same panel of justices that issued the Court's decision overturning a $603 million jury verdict against Boeing and its subsidiaries for fraud, tortious interference and breach of contract.Given the significant due process issues resulting from the late recusal of two appellate court justices from the case, and other errors contained in the Court’s decision, ICO intends to file a petition for review with the California Supreme Court no later than May 23, 2012.
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