Your News Alert for QCOM

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=09 As requested, your News Alert for QCOM follows from EquityAlert.com. =
QUALCOMM Prevails in Three Stock Option Cases SAN DIEGO, Jun 4, 2001 (=
BUSINESS WIRE) -- QUALCOMM Incorporated (Nasdaq: QCOM), today announced fav=
orable decisions in three cases that had been brought by former employees c=
laiming rights to unearned QUALCOMM stock options. In the Hanig v. QUALCOMM=
case, the California Superior Court granted summary judgment in QUALCOMM's=
favor on all of plaintiffs' claims on the grounds that the releases and ag=
reements not to sue executed by each of the plaintiffs barred their lawsuit=
. The plaintiffs had signed the releases in exchange for the right to parti=
cipate in a bonus retention plan under which QUALCOMM paid millions of doll=
ars to its former workers who became employees of Ericsson when QUALCOMM so=
ld its infrastructure equipment business. The case was filed by 69 of those=
former employees. In addition, QUALCOMM announced that the plaintiffs in=
the May v. QUALCOMM case have agreed to dismiss with prejudice their purpo=
rted class action lawsuit against QUALCOMM and QUALCOMM Personal Electronic=
s, in which several claims seeking compensation for stock options and bonus=
payments had been alleged by a separate group of former employees. The pla=
intiffs agreed to dismiss their claims after the court granted QUALCOMM's m=
otion dismiss their second amended complaint. Finally, QUALCOMM announced=
that the United States District Court for the Southern District of Califor=
nia had granted summary judgment on seventeen of eighteen causes of action =
in a purported class action lawsuit arising out of the reduction in force w=
hich occurred at the Company in February of 1999. In that case, the purport=
ed class representatives had each sought vesting of stock options after the=
termination of their employment, even though each had executed releases of=
claims in exchange for generous severance payments offered as part of the =
separation package. In granting judgment in QUALCOMM's favor on those claim=
s, the Court upheld the validity of those releases. "We are pleased that =
the Company has been completely vindicated in the Hanig and May cases and t=
hat virtually all of the claims in the third case have been summarily dismi=
ssed," said Louis M. Lupin, senior vice president and general counsel for Q=
UALCOMM. "QUALCOMM works very hard to ensure that our employees are treated=
not only lawfully, but fairly, and has consistently gone far beyond what t=
he Company was legally required to do in providing for our employees and ou=
r former employees. Consequently, it is very disappointing when frivolous c=
laims such as the ones raised in these cases are made but gratifying when t=
heir lack of merit is recognized. We will continue to vigorously defend aga=
inst meritless claims such as these." QUALCOMM Incorporated (www.qualcomm=
.com) is a leader in developing and delivering innovative digital wireless =
communications products and services based on the Company's CDMA digital te=
chnology. The Company's business areas include CDMA integrated circuits and=
system software; technology licensing; the Binary Runtime Environment for =
Wireless(TM) (BREW(TM)) applications platform; Eudora(R) e-mail software; d=
igital cinema systems; and satellite based systems including portions of th=
e Globalstar(TM) system and wireless fleet management systems, OmniTRACS an=
d OmniExpress. QUALCOMM owns patents that are essential to all of the CDMA =
wireless telecommunications standards that have been adopted or proposed fo=
r adoption by standards-setting bodies worldwide. QUALCOMM has licensed its=
essential CDMA patent portfolio to more than 100 telecommunications equipm=
ent manufacturers worldwide. Headquartered in San Diego, Calif., QUALCOMM i=
s included in the S?500 Index and is a 2001 FORTUNE 500(R) company traded o=
n The Nasdaq Stock Market(R) under the ticker symbol QCOM. Except for the=
historical information contained herein, this news release contains forwar=
d-looking statements that are subject to risks and uncertainties, including=
the Company's ability to successfully design and have manufactured signifi=
cant quantities of CDMA components on a timely and profitable basis, the ex=
tent and speed to which CDMA is deployed, change in economic conditions of =
the various markets the Company serves, as well as the other risks detailed=
from time to time in the Company's SEC reports, including the report on Fo=
rm 10-K for the year ended September 24, 2000, and most recent Form 10-Q. =
QUALCOMM, OmniTRACS and Eudora are registered trademarks of QUALCOMM Incor=
porated. OmniExpress and BREW are trademarks of QUALCOMM Incorporated. Glob=
alstar is a trademark of Loral QUALCOMM Satellite Services, Incorporated. A=
ll other trademarks are the property of their respective owners. CONTACT:=
QUALCOMM Incorporated Corporate Public Relation=
s Patty Goodwin, 858/651-4127 Fax: 858=
/651-5873 pgoodwin@qualcomm.com or =
Investor Relations Julie Cunningham, 858/65=
8-4224 Fax: 858/651-9303 jcunningham@q=
ualcomm.com URL: http://www.businesswire.com Today's News On T=
he Net - Business Wire's full file on the Internet with Hyperlinks to your =
home page. Copyright (C) 2001 Business Wire. All rights reserved. -0- =
KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS =
TELECOMMUNICATIONS HARDWARE =
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