Court Overturns Damage Award in ViaSat Lawsuit Against SSL, Orders New Trial on Damages Loral and SSL Plan to Appeal Jury Findings on Liability NEW YORK, NY -- (Marketwired) -- 08/11/14 -- Loral Space & Communications Inc. (NASDAQ: LORL) today announced that the trial court on August 8, 2014 issued decisions on the post-trial motions filed in the breach of contract and patent infringement lawsuit brought by ViaSat, Inc. (ViaSat) against Loral and Loral's former subsidiary, Space Systems/Loral, LLC (SSL). In its decisions, the court, finding that the jury's damages award resulted in a miscarriage of justice, vacated in full the $283 million jury verdict against SSL. The court ordered that a new jury trial be held on the amount of damages and has tentatively scheduled the trial to proceed in November 2014. The court deferred, until August 26, 2014, argument on ViaSat's motion seeking an injunction to prevent the manufacture and sale by SSL of additional satellites that infringe ViaSat's patents. "We are pleased with the court's decision, as it is an important first step in rectifying the injustice resulting from the April 2014 trial," said Michael B. Targoff, Vice Chairman of Loral. "Not only do we believe that the jury's damages award was excessive, but we continue to believe that we have strong grounds for challenging the jury's liability findings on appeal." About Loral Space & Communications Inc. Loral Space & Communications is a satellite communications company. Loral owns 62.8 percent of Telesat Canada, a global operator of telecommunications and direct broadcast satellites used to distribute video entertainment programming, broadband data, and provide access to Internet services and other value-added communications services. For more information, visit Loral's web site at www.loral.com. LORL-G This document contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will," "would," "could," "should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc. or its representatives have made or may make forward-looking statements, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the Securities and Exchange Commission, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to our financial statements in the current Form 10-K and in Loral's quarterly reports on Form 10-Q. The reader is specifically referred to these documents, as well as the Company's other filings with the Securities and Exchange Commission. Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including swings in the global financial markets, increases in interest rates and access to capital; (2) risks associated with satellite services, including dependence on large customers, launch delays and failures, in-orbit failures and competition; (3) regulatory risks, such as the effect of industry and government regulations that affect Telesat; (4) litigation risks, including the outcome of the new damages trial in, and any appeal of, the patent and breach of contract litigation with ViaSat; and (5) other risks, including a possible initial public offering at Telesat that could adversely affect the market for our common stock. The foregoing list of important factors is not exclusive. Furthermore, Loral operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond Loral's control. Contact: Wendy Lewis 650-852-5188
Court Overturns Damage Award in ViaSat Lawsuit Against SSL, Orders New Trial on Damages
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