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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (66093)	2/5/2000 6:37:00 PM
From: Steve	Read Replies (2) \| Respond to of 152472

Qualcomm faces $1 billion suit By Tom Bemis, CBS MarketWatch Last Update: 6:09 PM ET Feb 5, 2000 NewsWatch SAN DIEGO (CBS.MW) -- Qualcomm faces an age discrimination lawsuit by four employees who were laid off last year seeking as much as $1 billion and punitive damages, according to a published report Saturday. The suit was filed this week in Los Angeles Superior Court, according to a report in the San Diego Union-Tribune. The suit, which seeks certification as a class action, claims the workers were fired because they were over 40 and didn't meet the company's "youthful mind-set and employee makeup," the paper reported. Shares of Qualcomm (QCOM: news, msgs) rose more than 2,000 percent in 1999 creating millions of dollars in paper profits for employees of the wireless phone company with options to buy stock. A Qualcomm spokesperson told the paper the company hadn't seen the suit, but said the company believes the action is without merit. The employees who filed suit were laid off in February 1999. Qualcomm stock fell 1 3/4 to close at 137 7/16 Friday in trading of 15 million shares.