InterDigital Inc (IDCC)

[olddog967]

spenser: According to this, the prejudgement interest rate in NY is 9%. I have also read that the post judgement rate is the same. So if we win and interest is assessed, it could be substantial if they would follow NY law as a guide.


"Under New York law, "a plaintiff who prevails on a claim for breach of contract is entitled to prejudgment interest as a matter of right." United States Naval Inst. v. Charter Communications, Inc., 936 F.2d 692, 698 (2d Cir. 1991)(citing New York Civil Practice Law and Rules ("CPLR")§ § 5001 and 5002). The most pertinent New York statute provides, in relevant part, "interest shall be recovered upon a sum awarded because of a breach of performance of a contract . . . ." CPLR § 5001(a). The CPLR provides further that "interest shall be computed from the earliest ascertainable date the cause of action existed . . . ." CPLR § 5001(b). When "damages were incurred at various times," interest shall be "computed upon each item from the date it was incurred or upon all of the damages from a single reasonable intermediate date." Id. In New York, the statutory rate for prejudgment interest in a breach of contract action is 9% per annum. See CPLR § 5004.