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Intelsat sues OneWeb, SoftBank citing breach of contract, fraud, conspiracy to steal information

20 Sep 2019, 04:58 UTC
Intelsat sues OneWeb, SoftBank citing breach of contract, fraud, conspiracy to steal information
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SAN FRANCISCO – Intelsat filed a lawsuit in the New York Supreme Court claiming OneWeb and its largest investor SoftBank breached contracts, committed fraud and conspired to steal confidential and proprietary information.
The nine-count lawsuit filed Sept. 10 stems from Intelsat’s $25 million investment in OneWeb, subsequent cooperation agreements and the unsuccessful merger of the two parties. Intelsat is seeking unspecified compensatory damages, punitive damages, attorney’s fees and a halt to OneWeb and SoftBank actions that violate their agreements with Intelsat.
Intelsat’s 2015 investment in OneWeb was contingent upon a commercial agreement giving Intelsat customers access to OneWeb communications services, according to the complaint. The companies signed an agreement in late 2015 that made Intelsat the “sole and exclusive worldwide and regional distributor” of OneWeb communications services to customers in four markets: aviation, maritime, oil and gas, and the U.S. government, the complaint added.
At the time, OneWeb planned to focus its business on offering broadband access to consumers around the world and providing communications services in underserved geographic areas.
In 2016, SoftBank invested nearly $1 billion in OneWeb, acquiring a 40 percent stake in the company, according to the complaint. Then, “in willful breach” of OneWeb’s agreement with Intelsat, ...

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