Sirius Satellite Radio Inc. disclosed in a recent SEC filing that a hearing in the arbitration with U.S. Electronics is scheduled to start next month.
U.S. Electronics, which has most recently last year seeking approximately $48 million in damages.
According to the most recent SEC filing, Sirius disclosed that U.S. Electronics is now seeking between $75 million and $110 million
in damages.
The former distributor and manufacturer alleges that Sirius breached their contract; failed to pay monies owed;
tortiously interfered with U.S. Electronics’ relationships with retailers and manufacturers;
withheld information relating to the FCC’s inquiring into Sirius radios that include FM modulators…
and otherwise acted in bad faith.
Sirius believes that a substantial portion of the damages sought by U.S. Electronics are barred by the limitation of
liability provisions contained in their contract.
The hearing in this arbitration is scheduled to begin in March
2008, according to the filing.
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