U.S. Judge Says Qualcomm Violated Antitrust Law; Appeal Planned, Shares Plunge

U.S. Judge says Qualcomm violated antitrust law; appeal planned, shares plunge.

A sign on the Qualcomm campus in San Diego, Calif., on Nov. 6, 2017. Mike Blake/Reuters

Qualcomm Inc illegally suppressed competition in the market for smartphone chips by threatening to cut off supplies and extracting excessive licensing fees, a U.S. judge ruled, a decision that could force the company to overhaul its business practices.

The decision issued late Tuesday night by U.S. District Judge Lucy Koh in San Jose, California, caused Qualcomm shares to plunge 11.4 percent on Wednesday.