Home Stock Market EU ordered to pay portion of Qualcomm’s legal fees, court ruling states.

EU ordered to pay portion of Qualcomm’s legal fees, court ruling states.

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EU ordered to pay portion of Qualcomm’s legal fees, court ruling states.

Qualcomm Wins Legal Battle against EU Regulators

European Court Rules in Favor of Qualcomm

Europe’s second-highest court has ordered EU regulators to pay 785,857.54 euros ($851,634) of legal fees to Qualcomm, a fraction of the 12 million euros initially sought by the U.S. chipmaker. This decision follows Qualcomm’s successful appeal against an antitrust fine imposed by the European Commission.

Court Deems Qualcomm’s Legal Fees “Excessive”

The General Court in Luxembourg found Qualcomm’s claim for 12 million euros to be “manifestly excessive,” citing the number of hours worked and hourly rates as unreasonable. The court’s ruling significantly reduced the amount Qualcomm is entitled to for legal fees.

Qualcomm’s Legal Battle with the European Commission

After the General Court overturned a 997 million euro antitrust fine against Qualcomm in 2018, the U.S. company submitted its legal bill to the European Commission. However, the Commission contested Qualcomm’s claim, arguing that the amount requested was inflated.

Court Criticizes Qualcomm’s Legal Billing

Judges highlighted that the total number of hours worked on legal proceedings, rather than the number of lawyers involved, should determine the fees. They also noted that Qualcomm’s submission lacked specific details on hourly rates and tasks performed, leading to the reduction of the requested amount.

Final Decision on Legal Fees

The court ultimately approved a total fee of 785,857.54 euros for Qualcomm, including expenses for legal firm Quinn Emanuel and economic consultancy Compass Lexecon/FTI. This decision marks the conclusion of a legal battle that began in 2018.

Case Details and Currency Conversion

The case, identified as T‑235/18 DEP Qualcomm vs European Commission, sheds light on the complexities of antitrust regulations in the EU. The conversion rate at the time of the ruling was $1 to 0.9228 euros.