United States

Qualcomm stock slips after judge rules it violated antitrust rules

Qualcomm used unlawful, anticompetitive practices to license patents for modems used in mobile phones, a judge has ruled in a case brought by the US trade regulator, ordering it to renegotiate major deals and change how it does business. Shares of the company, which have soared since it settled a major and long-running licensing dispute with Apple earlier this year, sank 13% to $67.50 in trading before the bell. In a detailed, 230-page ruling on the case brought by the Federal Trade Commission, US District Judge Lucy Koh laid out a list of practices that she said used Qualcomm’s dominant position in the market to squeeze rivals out of contracts and force mobile phone makers to pay more for its patents. She ordered that Qualcomm ren ...