InterDigital Inc (IDCC)

[olddog967]

Apparently IDCC was the winner in the arbitration case with ASUS. On Friday (10/20) IDCC filed a motion with the CA Northern District Court to confirm the Final Award issued by the Tribunal on August 2, 2017. As usual all details were sealed.

According to the last quarter’s 10-Q, the arbitration only covered InterDigital’s breach of contract claims and Asus’s fraudulent inducement claim. I believe that IDCC’s breach of contract claim was that ASUS did not follow the PLA’s Disputes clause when they filed suit against IDCC. ASUS’s fraudulent inducement claim was potentially more serious. According to the 10-Q:
“With respect to its arbitration counterclaim for fraudulent inducement, Asus stated in its pleadings that it was seeking return of excess royalties (which totaled close to $63 million as of the August 2016 date referenced in the pleadings and has increased with additional royalty payments made by Asus since such time), plus interest, costs and attorneys’ fees.”

We should get more details, with this week’s earnings release and conference call, and the related 10-Q filing