Qualcomm reaches $75 mln settlement over sales and licensing practices
Qualcomm agreed to pay $75 million to resolve a lawsuit in which shareholders accused the chipmaker of defrauding them by hiding its anticompetitive sales and licensing practices. Shareholders accused Qualcomm of artificially inflating its share price between February 2012 and January 2017 by repeatedly describing its chip sales and technology licensing as separate businesses, when in fact Qualcomm bundled them to stifle competition. In January 2017, the Federal Trade Commission and Apple sued Qualcomm separately in connection with its alleged efforts to monopolize the market for baseband processors, a type of chip used in cellphones. Qualcomm called the claims baseless, but its share price fell 13% on the first full trading day after Apple sued.
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Apple Agrees To USD 95 Million Dollar Settlement Over Siri Privacy Violations
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