Arm down after Qualcomm wins jury trial verdict
QCOM•Arm shares fell about 1% in volatile trading after a Delaware jury awarded Qualcomm $2 in nominal damages, finding Arm breached its license agreement and intentionally sought to disrupt Qualcomm’s business. Qualcomm shares rose 1.2%.
1. Jury awards nominal damages
A Delaware jury awarded Qualcomm $2 after finding Arm breached its long-standing Architectural License Agreement with Qualcomm and intentionally sought to disrupt its business, a Qualcomm spokesperson said. Arm said the jury found in its favor on four claims and awarded one dollar in damages on each of Qualcomm’s other two claims.
2. Shares move in opposite directions
Arm shares fell about 1% to $252.61 in volatile trading, while Qualcomm shares rose 1.2% to $176.22. Arm was up about 132% year to date, including the session’s move.
