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Components | August 21, 2012

Amkor pays up; but not enough

Tessera has received an initial USD 20 million payment resulting from Amkor arbitration. Not enough though, says Tessera.

Tessera Inc. has received an initial payment of approximately USD 20 million from Amkor Technology, Inc. related to the interim award the International Court of Arbitration of the International Chamber of Commerce (ICC) issued on July 6, 2012, in favor of Tessera, Inc. in its dispute with Amkor. "As previously announced, we intend to seek an amount in excess of USD 125 million in connection with the ICC's interim award," stated Richard Chernicoff, president of Tessera Intellectual Property Corp. "We believe that litigation tactics are driving Amkor's decision to only pay this partial amount at this time, and we will continue to vigorously pursue our right to recover the full amount due."
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