HERE IS THE NEWS IN A NUTSHELL
It's my edited down version of the 8K that IDCC just put out and Daniel posted here for all to see. My suggestion is to read the last bolded sentence first, and then head straight to your "Enter Bid" button because you already know everything else.
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On May 3, 2005, InterDigital Communications Corporation (the "Company") announced the following:
o Effective May 2, 2005, the Company's Board of Directors named William J. Merritt as Chief Executive Officer and President and appointed Mr. Merritt as a Director.
o Howard E. Goldberg's employment as Chief Executive Officer and President of the Company and his membership on the Company's Board of Directors had terminated effective as of May 2, 2005.
o Charles R. Tilden's employment as Chief Operating Officer of the Company had terminated effective as of May 2, 2005.
Mr. Merritt's current annual base salary is $294,300. The Company anticipates that Mr. Merritt's employment agreement will be amended to address his appointment as Chief Executive Officer and President.
Item 7.01. Regulation FD Disclosure.
In its Form 10-K for the fiscal year ended December 31, 2004, the Company reported that the Tribunal in the Nokia Arbitration had notified the parties that the Tribunal expected to submit an internal draft Award to the International Court of Arbitration of the International Chamber of Commerce (ICC) on or before March 31, 2005 (as an approximate date), and that the ICC had set May 31, 2005 as the last date for rendering a Final Award. As of this filing, the Company has not received any notification nor any other information relating to the actual timing or content of any draft of the Final Award or the Final Award itself.
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