Friday, April 14, 2006

Qualcomm Pays $1.8 Million to Resolve Merger Suit

Without admitting or denying allegations of “gun jumping” in its $608 million acquisition of Flarion Technologies, wireless technology company Qualcomm has agreed to pay the Department of Justice $1.8 million to put the matter to rest.

The Department of Justice took the position that certain elements of Qualcomm’s agreement to buy Flarion gave it too much control of the target company before federal regulators had formally cleared the deal. While Qualcomm disagreed with that stance, it decided to settle in order to “put this matter behind us,” Qualcomm’s general counsel said in a press release on Thursday.

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