BlackBerry has won about $815 million as a refund for overpayments made to Qualcomm. The award is non-appealable and has seen BlackBerry’s stock jump by 15 percent since the announcement.
BlackBerry has won a refund for overpayments of about $815 million in an arbitration against Qualcomm. The non-appealable award will include interest and attorneys’ fees, which are yet to be determined; the final award will be issued after a hearing on May 30.
Details remain scarce, but the dispute arose following Qualcomm’s agreement to put a cap on certain royalty payments, with a disagreement over whether the cap was applicable on some payments made by BlackBerry. Proceedings ended on March 3 but were only made public today.
In an official statement , BlackBerry CEO John Chen said:
BlackBerry’s win handed down by the arbitration panel has helped its stock jump 15 percent since the announcement.
