Bad News for Qualcomm

Broadcom Corp. (BRCM) announced early this morning that a federal judge has let stand a jury verdict that found that Qualcomm Inc. (QCOM) infringes three Broadcom patents. Broadcom plans to inform the judge that it will not seek a new trial. Instead Broadcom will accept the original $19.6 million in compensatory damages as originally awarded by the jury AND will immediately pursue an injunction against Qualcomm's infringing products. In the injunction, Broadcom will seek to enjoin Qualcomm from making, using, selling and developing third generation (3G) WCDMA and EV-DO cellular chips that infringe any of the patents.