Qualcomm CEO Paul Jacobs was given a big vote of confidence as he was appointed to succeed his father as chairman of the company.
Jacobs takes over immediately for his father, Irwin Jacobs, who co-founded Qualcomm and served as CEO from 1985 through 2005. The senior Jacobs will continue to serve as a member of the board.
Paul Jacobs took over as CEO in 2005.
Separately, Qualcomm announced that the U.S. District Court for the Southern District of California granted Qualcomm’s motions to dismiss three consumer class action lawsuits alleging antitrust violations and unfair competition by Qualcomm.
U.S. District Court Judge William Hayes held that the plaintiffs lacked standing to bring antitrust claims because their alleged injuries were too remote to be traced to the allegedly anticompetitive conduct, according to a company statement. As to the plaintiffs’ other claims, the court held that the allegations in the complaint did not give them any right to compensation from Qualcomm under California’s unfair competition law.