SAN DIEGO-Qualcomm Inc. reached an agreement to resolve a class-action lawsuit filed by former employees resulting from the sale of the assets of the company’s infrastructure division to L.M. Ericsson.
The settlement calls for $8.9 million to be distributed to more than 1,000 former employees covered by the lawsuit. Qualcomm noted that while agreeing to resolve the lawsuit, all payments are to be made by third parties.
“Qualcomm believes it provided a fair and generous compensation plan for those employees who joined Ericsson,” said Dr. Irwin Jacobs, chairman and chief executive officer of Qualcomm. “Nonetheless, we are happy that employees received this additional compensation, allowing us to put the matter behind us and concentrate on more productive activities.”
A final settlement approval hearing is scheduled for April 28.
