ION to get new trial in WesternGeco lost profits litigation


HOUSTON - The United States District Court for the Southern District of Texas refused WesternGeco's request to reinstate a $100 million lost profits award against ION Geophysical, and instead ordered a new trial to determine what lost profits, if any, WesternGeco is entitled to from surveys performed by ION's customers outside of the United States. 

In January of this year, the Federal Circuit Court of Appeals in Washington, D.C. vacated a judgment that would have required ION to pay more than $100 million in lost profits damages.  These damages stemmed from a 2012 verdict that ION infringed several patent claims held by WesternGeco.  Four of the five patent claims that supported lost profits damages in the 2012 verdict were found, by the Federal Circuit Court, to be invalid.

"We are very pleased with the court's ruling today," stated Chris Usher, ION's president and CEO.  "All but one of the claims that underpinned the jury's award of lost profits were for patents that never should have been issued.  As we argued to the court, the remaining claim that is in play is very narrow and governs one particular way of doing turn control that was not necessary for the surveys.  After many years of litigation, we have renewed confidence in the ultimate outcome, and look forward to making our case."

Related News ///


Comments ///


{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}