RANCHO MIRAGE, CA – Craig Wireless Systems said that it was “pleased” with a court’s decision on its litigation with Clearwire.
An order for summary judgment in the case of Craig Wireless and Craig Wireless Manitoba Inc. versus Clearwire Legacy LLC and Fixed Wireless Holdings LLC, filed in the U.S. District Court for the Western District of Washington, was entered Monday. The claim was filed by Craig in connection with the alleged failure of Clearwire to provide equipment to it pursuant to an agreement entered into among the parties or their predecessors in 2004-2005, and related matters.
The Court found that Craig was entitled to, and did validly retract certain shares Clearwire held in Craig Wireless Manitoba Inc. in accordance with the terms of a related agreement. Accordingly, Clearwire is not entitled to any of the proceeds from the sale of Craig’s Canadian spectrum assets last year. The Court further found that the retraction of shares was Craig’s sole remedy for the lack of equipment delivery.
"We are pleased that the Company’s contractual right was upheld by the Court", said Craig Wireless CEO in a statement Monday.
