Court Rules Qualcomm, Inc. Must Refund $814.9 Mln, Plus Interest & Attorneys’ Fees, To BlackBerry Ltd

In a court judgment that is not appealable, QUALCOMM, Inc. (NASDAQ:QCOM ) must refund $814.9 mln, plus interest and attorneys’ fees, to BlackBerry Ltd (NASDAQ:BBRY ) related to royalties that BBRY paid to QCOM for certain past sales of subscriber units.

Written by StockNews.com

…According to both companies, they’d agreed to let an arbitrator pass a final decision on the matter:

The parties had agreed to arbitrate a contract dispute relating to one specific issue: whether Qualcomm’s voluntary per unit royalty cap program applied to BlackBerry’s non-refundable prepayments of royalties for sales of a specified number of subscriber units from 2010 through the end of 2015.

QCOM noted that it doesn’t agree with the decision, but must adhere to the terms of its agreement and pay the judgement.

It’s important to note that the judgement only applies to business arrangements that QCOM and BBRY had together, and won’t affect any other companies.

…Year-to-date, QCOM has declined -15.07%, versus a 5.47% rise in the benchmark S&P 500 index during the same period.

QCOM currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #64 of 93 stocks in the Semiconductor & Wireless Chip category.