Tuesday, May 17, 2005 8:56:27 AM
Did you ever hear back from Loop or anybody on the Federal Insurance case?
I have been looking at the documents this morning; Here is my layman's take:
On 9/16/04, the judge issued a suspense order (document #25; pasted below), which basically seems to have put the case 'on ice.'
In PACER, the case has a termination date of 9/17/04. However, there were some briefs filed in October 2004. Those briefs were ordered by the judge on 9/14/04.
In those briefs, essentially, it looks like Federal Insurance is arguing that an arbiter should determine how much InterDigital owes Federal.
InterDigital is arguing that the court should decide that there was no consideration, and that InterDigital does not owe Federal anything.
I remember reading the arguments in this case, and I thought InterDigital's arguments were compelling. However, InterDigital has set aside $3.4 million in reserves. (Federal is asking for $28 million).
There have been no filings in the Federal Court since October 2004. There has been no ruling by the judge on the parties' briefs, and there is no indication that the judge directed the parties to arbitration.
In the 10-K published in March 2005, InterDigital basically said it was opposing Federal's requests for arbitration. So, there is nothing to indicate that the parties were directed to arbitration.
It's really hard to tell what, if anything, is currently happening in this case.
It seems to be Federal's move in this case. It's been six months, and nothing has happened.
Unless there is some arbitration going on behind the scenes about which we have not been informed, my guess is that, in this case, no news is good news.
In any event, after a couple weeks, the Federal case may seem inconsequential.
Here's the judges order from September 16, 2004:
IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF PENNSYLVANIA
INTERDIGITAL COMMUNICATIONS, : CIVIL ACTION
CORP., ET AL., ::
Plaintiffs, : NO. 03-6082
:
v. ::
FEDERAL INSURANCE COMPANY, ::
Defendant. :
ORDER
AND NOW, this 16th day of September, 2004, it is HEREBY ORDERED that this case shall be PLACED IN SUSPENSE pending the outcome of the extended briefing ordered by this court.
AND IT IS SO ORDERED.
______________________________
EDUARDO C. ROBRENO, J.
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