Qualcomm has agreed to settle a lawsuit by paying $75 million.
In a court filing on Tuesday, Qualcomm said it would agree to pay $75 million to settle a lawsuit brought by shareholders, who claim that the company misled them about how its business practices worked and artificially inflated its stock price as a result. The settlement was earlier reported by Reuters.
The lawsuit, initially filed in 2017, alleged that Qualcomm had leveraged its dominant market position to impose exorbitant royalty fees on Apple and other smartphone manufacturers.
Apple claimed that Qualcomm had demanded excessive payments for patents that were not directly related to the company’s chips, thus violating fair competition principles.
