(Reuters) – A U.S. judge on Wednesday ruled against Qualcomm Inc’s (QCOM.O) effort to block the implementation of a sweeping antitrust ruling against it as the mobile chip supplier pursues an appeal that could take more than a year to wind through the courts.
Qualcomm has argued in court that the ruling could hamper critical negotiations with phone makers over 5G technology, forcing it to rework license agreements and even offer deals to rival chip suppliers, scrambling its business in a way that would be impossible to unwind if it wins on appeal.
A Qualcomm spokeswoman told Reuters the company plans to immediately ask the 9th U.S. Circuit Court of Appeals to stay the lower court’s decision.
Shares in Qualcomm were down 0.5 percent to $76.73 after the ruling, which had been widely expected.
U.S. District Judge Lucy Koh did not give a specific reason for denying Qualcomm’s motion but she did strike from the record several pieces of evidence that Qualcomm had tried to use to…
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