How Will Loral Space & Communications (LORL) Stock React To Patent Loss Reversal?

The satellite communications company won the reversal of a $283 million patent verdict against its former Space Systems/Loral unit.

Author:
Tedd Cohen
Publish date:
Aug 11, 2014 12:28 PM EDT

The satellite communications company won the reversal of a $283 million patent verdict against its former Space Systems/Loral unit.

NEW YORK (TheStreet) -- Loral Space & Communications (LORL) - Get Loral Space & Communications Inc. Report won the reversal of a $283 million patent verdict against its former Space Systems/Loral unit after a federal judge voiced skepticism at the basis for the jury's determination, Bloomberg reports.

Satellite network systems firm ViaSat (VSAT) - Get ViaSat, Inc. Report, which provides wireless systems, sued the satellite communications company for patent infringement and breach of contract in 2012, and a jury in April awarded the damages. U.S. District Judge Marilyn Huff in San Diego ordered a new trial in November on damages, Bloomberg noted.

In overturning the award August 8, Huff wrote that damages are not an “exact science” and testimony “was not based on sound economic and factual predicates.”

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