Motorola Settles Telsim-Related Lawsuit
Motorola, Inc ( NYSE: MOT) today announced that the company has settled a Telsim-related securities class action lawsuit entitled In Re Motorola Securities Litigation. The $190 million settlement payment will be taken as a charge in the Company’s recently completed first quarter, partially offset by estimated insurance recoveries of $75 million.
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of seamless mobility, the people of Motorola are committed to helping you connect simply and seamlessly to the people, information and entertainment that you want and need. We do this by designing and delivering “must have” products, “must do” experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $42.9 billion in 2006. For more information about our company, our people and our innovations, please visit http://www.motorola.com.
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