Judge rules against Qualcomm in antitrust case

Channel: Fox Business
Published: 11 hours ago

Description
Fox News senior judicial analyst Judge Andrew Napolitano on a California judge ruling that Qualcomm violated antitrust laws because it unlawfully suppressed competition. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both...



Transcript
[ music ], a legal setback for qualcomm. This is the stock story of the day. A california judge ruled that the company did in fact violate antitrust law, saying that it unlawfully suppressed competition in the market for cellphone chips. Qualcomm recently settled a similar suit from apple. The stock is down 12 and a quarter percent at 68, 17 right now in the free market. Joining us right now is fo ...
news, senior judicial analyst, janet napolitano. Could you see judge morning your reaction? Well, you know these. This is an antitrust case filed by the federal trade commission in the waning days of the obama administration, but aggressively prosecuted by the donald trump doj. Whether there are foreign implicationsin, this or not, we don't know some of the findings by the judge in, in my view, are not violent to event. I trust the prices are too high. Well, prices are what a buyer and a seller agree to. How can a judge decide that they're too high what there are certain antitrust violations that she did find like? If you sell to b, you can't sell to anybody else.

That is clearly that is a per se antitrust violation intended to harm competition. These are not trials in the traditional sense. These are cases with a couple of years of discovery. Yeah dump all the discovery, along with your legal argument on the judge's desk, the judgereads, everything in rules and she ruled yesterday yeah. The exclusivity was was the biggest problem that it seems she had under the sherman act which this was brought under, but it was also pretty fascinating that once qualcomm actually settled with apple intel left, so there's there's no competition right because it's so cost prohibitive to enter This market create the intellectual property that they're able to charge what they try. That is that's part of their defense. First of all, their market share has gone down. Secondly, the people that we deal with the you think we've heard there are many times the size we are. How could we hurt the most profitable company in the world appleand? They were complaining about the price correct now, a finding like this will gin up a class action case that already exists for the ultimate purchaser, the people that buy the products that have these chips in them. That'S too expensive because of you precisely precisely, and that will result in a windfall for the plaintiffs. Lawyers will get a huge fee and and the owners of the phone will get some sort of a coupon for five dollars off the next time. They gon na feel or is always win.



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