Steve Mehs
05-27-03, 05:11 AM
Pegasus' stock closed down in trading Friday after the company and DirecTV traded shots concerning their litigation before a U.S. District Court judge in California.
Pegasus shares slipped more than 2 percent to $25.41.
The litigation between DirecTV and Pegasus, which sells the satellite TV service in rural areas, took a turn last week when a judge ruled on a number of summary judgment motions. The entire case centers on Pegasus and the National Rural Telecommunications Cooperative accessing DirecTV premium programming and services for their rural business.
Said the Pennsylvania-based company, "Pegasus and NRTC look forward to an expeditious trial on these issues and are confident of a favorable verdict."
NRTC also said it's ready to move on to the next step. NRTC general counsel Steve Berman said the cooperative's case against the satellite TV service has "merit and will go on to trial. DirecTV’s repeated attempts to avoid having to face a jury to explain its actions have failed, and we are anxious to get before that jury, where we are confident of prevailing."
Still, the judge in the case limited the scope of the trial's focus. The judge also determined that Pegasus and NRTC aren't entitled to compensatory damages.
Late last week, DirecTV said it viewed the judge's motion as a positive for the company. (http://www.skyreport.com/viewskyreport.cfm?ReleaseID=1129) The satellite TV service said the court established that Pegasus does not have a breach claim, and it has no claim for compensatory and punitive damages.
From SkyReport (http://www.skyreport.com) (Used with Permission)
Pegasus shares slipped more than 2 percent to $25.41.
The litigation between DirecTV and Pegasus, which sells the satellite TV service in rural areas, took a turn last week when a judge ruled on a number of summary judgment motions. The entire case centers on Pegasus and the National Rural Telecommunications Cooperative accessing DirecTV premium programming and services for their rural business.
Said the Pennsylvania-based company, "Pegasus and NRTC look forward to an expeditious trial on these issues and are confident of a favorable verdict."
NRTC also said it's ready to move on to the next step. NRTC general counsel Steve Berman said the cooperative's case against the satellite TV service has "merit and will go on to trial. DirecTV’s repeated attempts to avoid having to face a jury to explain its actions have failed, and we are anxious to get before that jury, where we are confident of prevailing."
Still, the judge in the case limited the scope of the trial's focus. The judge also determined that Pegasus and NRTC aren't entitled to compensatory damages.
Late last week, DirecTV said it viewed the judge's motion as a positive for the company. (http://www.skyreport.com/viewskyreport.cfm?ReleaseID=1129) The satellite TV service said the court established that Pegasus does not have a breach claim, and it has no claim for compensatory and punitive damages.
From SkyReport (http://www.skyreport.com) (Used with Permission)