U.S. Court Issues $4.26B Judgment to Motorola in Telsim Case

A U.S. District Court issued a $4.26 billion judgment against the Uzan family of Turkey, ruling that the Uzans perpetrated massive fraud against Motorola. The court ruled that the Uzans fraudulently induced Motorola to loan $1.8 billion to Telsim Mobil Telekomunikasyon Hizmetleri A.S. ("Telsim"), a telecommunications entity owned and controlled by the Uzan family. Members of the Uzan family and the companies they control have been ordered by the court to pay Motorola $2.13 billion in compensatory damages and another $2.13 in punitive damages. Nokia plans to use the court ruling to pursue its own legal case against the Uzans.
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