Key Developments: EchoStar Corp (SATS.O)
40.24USD
21 May 2013
$-0.24 (-0.59%)
$40.46
$40.45
$40.79
$39.87
140,455
--
--
--
Latest Key Developments (Source: Significant Developments)
Harwood Feffer LLP Announces Investigation Of EchoStar Corp
Harwood Feffer LLP announced that it is investigating potential claims against the board of directors of EchoStar Corp, concerning whether the board has breached its fiduciary duties to shareholders. The EchoStar Board of Directors approved the grant of more than 1.5 million stock options to EchoStar's executive chairman and controlling stockholder, Charles W. Ergen, contrary to pre-existing limitations on the grant of such stock options to no more than 800,000 per year. The ultra vires grant of such options together with misrepresentations about such grant of options may constitute breaches of the fiduciary obligations of loyalty, good faith and candor. Full Article
Ryan & Maniskas, LLP Announces Investigation Of EchoStar Corp
Ryan & Maniskas, LLP announced that it is investigating potential claims against the Board of Directors of EchoStar Corp concerning possible breaches of fiduciary duty and other violations of law related to the Company's excessive compensation package for its CEO and other executives. The investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval and awarding of excessive compensation to Company executives. Full Article
EchoStar Corp's Hughes Network Systems LLC Receives Order by EPA for Satellite Broadband Services
EchoStar Corp's Hughes Network Systems LLC announced that it has received an order from the U.S. Environmental Protection Agency (EPA) to provide satellite broadband services for the agency's RadNet program. Under the order, Hughes will provide 50 sites with 12 months of satellite broadband service. The Hughes solution includes its HN9000 broadband satellite terminal and a dedicated Access Gateway, supporting expansion and potential conversion into a private network. Hughes will install and deliver satellite broadband services at up to five RadNet locations each month. Full Article
EchoStar Corp Subsidiary Files Patent Infringement Lawsuit To Protect Its Content Placeshifting Technologies
EchoStar Corp announced its subsidiary Sling Media has filed a lawsuit against two companies in U.S. District Court for the Northern District of California , alleging infringement of five Sling Media patents. The civil complaint names Monsoon Multimedia Inc. of San Mateo, CA. and Belkin International Inc. of Los Angeles . Sling Media alleges that products sold by the two California companies infringe Sling technology used to power the Slingbox product family. Using Slingbox, consumers have the ability to watch and control content placeshifted from their living room TVs at any time, to any location, using Internet-connected PCs, Macs, tablets and smartphones. Specifically, the suit alleges that Monsoon and Belkin infringe U.S. Patent Nos. 7,725,912, "Method for Implementing a Remote Display System with Transcoding;" 7,877,776, "Personal Media Broadcasting System;" 8,051,454, "Personal Media Broadcasting System with Output Buffer;" 8,060,909, "Personal Media Broadcasting System;" and 8,266,657, "Method for Effectively Implementing a Multi-Room Television System." Full Article
EchoStar Corp Announces Board Change
EchoStar Corp announced that David J. Rayner will return to the role of Chief Financial Officer of EchoStar. Kenneth G. Carroll, the current Chief Financial Officer (CFO) of EchoStar, will assume a broadened role of Executive Vice President of corporate and business development. Mr. Carroll and Mr. Rayner will work side-by-side through December to ensure a smooth transition into their new roles. Full Article
The Law Firm of Levi & Korsinsky, LLP Launches Investigation Into Possible Breaches Of Fiduciary Duty By Board Of Directors Of Echostar Corp. In Connection With Executive Compensation
Levi & Korsinsky, LLP announced that it is investigating EchoStar Corp., and its Board of Directors, in connection with the compensation provided to certain of its executive officers. Full Article
Echostar Corporation's Hughes Network Systems, LLC Secures Order From USDA's Food Safety And Inspection Service
Hughes Network Systems, LLC (HUGHES) announced that it has been awarded a task order by the U.S. Department of Agriculture's (USDA) Food Safety and Inspection Service (FSIS) to deliver managed broadband services to 300 offices and inspection sites. The order is for a one year period under a Blanket Purchase Agreement of Hughes' GSA Schedule 70 contract (GS-35F-0907P). The comprehensive Hughes solution will provide the following; Managed delivery of broadband services; Integrated and consolidated billing; Turn-key implementation with online status reporting; 24x7 monitoring and notification; Monitoring and management of contractor-provided network equipment; Nationwide same day, on-site field maintenance and help desk support; Network solution design and specification. Hughes is a wholly owned subsidiary of EchoStar Corporation Full Article
Echostar Corporation Completes Hughes Communications, Inc. Acquisition
EchoStar Corporation and Hughes Communications, Inc. announced the completion of EchoStar's acquisition of Hughes Communications Inc. The combined companies will create a powerhouse in satellite based digital video and broadband technologies and services. Under the terms of the transaction, Hughes' shareholders will receive $60.70 per share without interest, which represents a premium of 31% over Hughes' unaffected closing share price of $46.43 on January 19, 2011. The funding of the acquisition is being supported by the recent placement of $1.1 billion of senior secured notes and $900 million of senior unsecured notes. Full Article
Ergen plays wireless hand with bet on Clearwire
- Satellite mogul Charlie Ergen, the billionaire founder and chairman of Dish Network and EchoStar, has cemented his reputation as a wild card with a surprise $2 billion-plus bid for Clearwire as part of his push into the wireless industry.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
