Qualcomm: shares plunge after US court ruling

(CercleFinance.com) - Qualcomm shares plunged on Wednesday after a Californian judge ruled in favor of the US Federal Trade Commission in the FTC's antitrust case.


In a statement, the chipmaker said it "strongly disagrees" with the ruling and that it will immediately seek a stay of the district court's judgment and made an appeal to the US Court of Appeals.

In 2017, the FTC filed a complaint against Qualcomm, saying that the company's business practices were in violation of US competition law.

"Qualcomm has never withheld or threatened to withhold chip supply in order to obtain agreement to unfair or unreasonable licensing terms," the group then said.

The shares are currently down 10% at 70.2 dollars on the Nasdaq.

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