Subject: [NEXTEL-1] Motorola Faces More than $4Bn Lawsuits

From: [email-masked]
Date: Mon, 19 May 2003 12:16:55 -0400

Motorola has USD 77 million reserved to cover litigation costs in connection with its
former Iridium program. It faces lawsuits seeking more than USD 4 billion in damages for
its role in the satellite venture's failure. In a document filed with the SEC, Motorola
said that the reserves are believed by the management to be sufficient to cover Motorola's
current exposures related to the Iridium program. The company added that an unfavorable
outcome of one or more of these cases could have a material adverse effect on the
company's consolidated financial position, liquidity, or results of operations. Motorola
owned an 18 percent stake in Iridium, which filed for bankruptcy protection in
1999.www.wirelessNOW.com

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