Boeing Ordered to Pay ICO $631M in Damages

Reston, Va. -- Boeing (BA Quote) has been ordered to pay former customer ICO Global Communications (ICOG Quote) $631 million in damages after a California court approved a jury verdict against the Chicago-based aerospace company.

The Los Angeles Superior Court backed a jury's decision in October to award $371 million in compensatory damages, and $236 million punitive damages, plus prejudgement interest, ICO said Tuesday.

Boeing will also be required to pay ICO 10% interest on the full judgment starting Jan. 2, the company said.

Boeing did not immediately return a call for comment Wednesday morning. ...