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

NEW YORK (TheStreet) -- Loral Space & Communications  (LORL) 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), 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.”

 
Shares of Loral Space & Communications are down -0.60% to $73.36.
  

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