Qualcomm news concerning antitrust complaints has QCOM stock down on Wednesday.
The case against Qualcomm (NASDAQ:QCOM) comes from U.S. District Judge Lucy Koh. A ruling was made on May 21 that requires the company to take part in new antitrust operations. QCOM is seeking to appeal this ruling.
The bad Qualcomm news comes from the company’s request to delay that ruling until it finishes its appeal. The judge isn’t planning to change the ruling, arguing that the appeal could take years to process.
Another added bit of bad Qualcomm news comes from LG. The company says that it is currently in negotiations with QCOM over using the company’s chips in its smartphones. It has voiced concerns that a reversal on the judge’s decision could result in it having to take an unfair deal in the negotiations.
It isn’t just Judge Koh and LG that want the current ruling to remain in place. The U.S. Federal Trade Commission is also in favor of keeping the current ruling in connection to QCOM, reports Reuters.
LG is also far from the only smartphone maker that has made complaints about how Qualcomm handles licensing fees for its patents. Apple (NASDAQ:AAPL) was also battling the company in a series of lawsuits lasting for years. However the two recently reached a settlement agreement that has brought that fight to an end.
QCOM stock was down 2% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.