LG Electronics Inc. v. Invention Investment Fund I, L.P.

Summary

The Supreme Court affirmed the jury's liability and damages verdict for LG, holding that LG's telematics units were covered Licensed Offerings, that LG's breach claim was ripe, and that competent evidence supported its indemnification damages and obligations to GM and Toyota. The court held that the contractual damages cap applied, but IV's eve-of-trial attempt to reduce the cap from $12.8 million to $4.9 million substantially prejudiced LG and could not be entertained. The court reversed the denial of prejudgment interest and costs and remanded for entry of judgment, calculation of prejudgment interest, and reconsideration of costs.