BlackBerry announces final Award in Qualcomm arbitration
May 30, 2017
WATERLOO, ONTARIO - May 26, 2017 08:00 ET: BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) announced today that it has reached an agreement with Qualcomm Incorporated resolving all amounts payable in connection with the interim arbitration decision announced on April 12, 2017.
Following a joint stipulation by the parties, the arbitration panel has issued a final award providing for the payment by Qualcomm to BlackBerry of a total amount of U.S.$940,000,000 including interest and attorneys' fees, net of certain royalties due from BlackBerry for calendar 2016 and the first quarter of calendar 2017. Qualcomm will pay the full amount of the final award on or before May 31, 2017.