(Bloomberg) A billion-dollar lawsuit that Gabriel Technologies Corp. filed in 2008 against Qualcomm Inc. (Nasdaq: QCOM) backfired and forced the developer of global-positioning technology to file Chapter 11 bankruptcy last week in the San Francisco hometown.
Having sued Qualcomm for patent infringement, Gabriel's doom was sealed in October when a federal district judge dismissed the last of the claims against San Diego-based Qualcomm.
Earlier this month Qualcomm won a $12.4 million judgment against Gabriel for pursuit of what Qualcomm called an "objectively baseless" lawsuit brought in "bad faith."
Gabriel claimed in the petition that assets and debt both exceed $10 million.
The case is In re Gabriel Technologies Corp., 13-30340, U.S. Bankruptcy Court, Northern District California (San Francisco).