FILE PHOTO: A woman walks past a sign board advertising in Qualcomm at the Mobile World Congress (mobile world CONGRESS), Shanghai, China, 28th June, 2019 at the latest. REUTERS/Aly Song
(Reuters) – Qualcomm Inc. has won a partial stay against the enforcement of a sweeping anti-trust ruling in a lawsuit brought by the Federal Trade Commission (“FTC”), according to a court filing on Friday.
The company, on the 21st of May, lost an anti-trust lawsuit, and it is a fight to get the ruling put on hold while on the job.
San Diego, Calif. – based company also argued that the ruling could upend the talks, the phone makers in the chips is for 5G, the next generation of wireless data networks.
In the ruling Friday, the U.S. 9th Circuit Court of Appeals held the provisions of the earlier ruling, which required Qualcomm to license it to rival chip vendors, and the reality of the chip, customers have to sign a patent license to the purchase of the team.
In the earlier ruling, would We have to renegotiate all of the existing chip, patents and contracts, as well as the creation of a new business, to comply with the requirements.
I did not immediately respond to a request for comment. The shares rose shortly after the news, but then fell 0.7 percent to $76.62 in the afternoon trade. Equities have been volatile this year, up from the mid-$50 range, up to over $85, after I was settled a huge lawsuit with Apple Inc , but in the mid-$60 range, with the loss of the case brought by the FTC.
The company has not formally filed its appeal of the FTC litigation. The stay, issued Friday, lays out the operation of the components of the decision, while the appeal process, which could take a year or more to play.
Reporting Sayanti Chakraborty, Bengaluru, and Stephen Nellis in San Francisco; Editing by Shinjini Ganguli and Tom Brown