Delaware jury awards Qualcomm $2 in damages, finds Arm breached license agreement
QCOM•A Delaware jury found that Arm breached its licensing agreement with Qualcomm and intentionally interfered with Qualcomm’s business relationship with Meta Platforms, awarding Qualcomm $2 in damages. Arm shares fell 1% after the verdict, while Qualcomm shares rose 1%.
1. Jury reaches verdict
A federal jury in Delaware found that Arm Holdings breached a licensing agreement with Qualcomm and intentionally interfered with the chipmaker’s business relationship with Meta Platforms. The jury awarded Qualcomm nominal damages of $2, according to court records.
2. Trial follows strained ties
The verdict followed a five-day trial last week, the second trial between the companies in two years. The trial highlighted the deterioration of their business relationship after SoftBank Group acquired control of Arm in 2016 and Arm shifted from licensing technology needed to make chips to selling chips of its own.
