Appellate Court Upholds Tessera Arbitration Award Against Amkor

(RTTNews) - Tessera Technologies Inc (TSRA) Wednesday announced that a California state appellate court affirmed a lower court ruling denying a petition by Amkor Technology Inc (AMKR) to correct an arbitration award that the International Court of Arbitration of the International Chamber of Commerce issued in July 2012 in favor of Tessera in its contract dispute with Amkor. This award was the basis for the arbitrators' ultimate damages award that a California trial court recently confirmed in the amount of $128.3 million plus ongoing post-judgment interest in Tessera's favor.

"Now that the arbitration tribunal, the trial court, and the appellate court have all ruled in Tessera's favor and against Amkor, we hope Amkor will finally pay what it owes," said Paul Davis, Tessera's Senior Vice President and General Counsel. "As we have done with others, we remain open to resolving this matter in a collaborative way and working with Amkor in the future."