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Qualcomm Scuttles Pact

Technology | TECHNOLOGY IN BRIEF

May 02, 2000|Associated Press

Qualcomm Inc. called off a proposed $8.9-million settlement of a lawsuit filed by former employees whose division was sold before they could exercise their stock options. The settlement was scuttled Friday because too few employees opted to take Qualcomm's offer. The offer was open to more than 1,000 employees of an infrastructure division that was sold to Swedish firm Ericsson last year as part of an agreement to end a patent dispute between the two telecommunication companies. A San Diego County Superior Court judge gave the parties until May 15 to mediate a deal.

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