Qualcomm shares plunge on report federal judge rules it has violated antitrust law

View of the phone company QUALCOMM technology 5G in the Mobile World Congress.Ramon Costa | SOPA Images | LightRocket | Getty ImagesShares of Qualcomm sank 11% in premarket trading Wednesday after a federal judge ruled the company unlawfully suppressed competition in the market for cellphone chips, according to a report in The Wall Street Journal. The ruling, by U.S. District Judge Lucy Koh in San Jose, California, also found the chip maker used its dominant position to charge excessive licensing fees.The ruling comes a month after Qualcomm settled a long-standing lawsuit with Apple, which agreed to continue paying licensing fees.Read the full Wall Street Journal report here.This is breaking news. Please check back for updates.

Source: CNBC

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