(Reuters) - Qualcomm ( QCOM ) agreed to pay $75 million to resolve a lawsuit in which shareholders accused the chipmaker of defrauding them by hiding its anticompetitive sales and licensing practices.

A preliminary all-cash settlement was filed on Tuesday with the federal court in San Diego.

It requires approval by U.S. District Judge Jinsook Ohta, who certified the lawsuit as a class action in March 2023.

Qualcomm ( QCOM ) and six individual defendants, including former chief executives Paul Jacobs and Steven Mollenkopf, denied wrongdoing in agreeing to settle.

The San Diego-based company did not immediately respond to a request for comment.

Shareholders accused Qualcomm ( QCOM ) of artificially inflating its share price between February 2012 and January 2017 by repeatedly describing its chip sales and technology licensing as separate businesses, when in fact Qualcomm ( QCOM ) bundled them to stifle competition.

In January 2017, the Federal Trade Commission and Apple ( AAPL ) sued Qualcomm ( QCOM ) separately in connection with its alleged efforts to monopolize the market for baseband processors, a type of chip used in cellphones.

Apple ( AAPL ) said Qualcomm ( QCOM ) used its monopoly position to overcharge for chips, and seek onerous and costly terms for technology licenses.

Qualcomm ( QCOM ) called the claims baseless, but its share price fell 13% on the first full trading day after Apple ( AAPL ) sued.

The case is In re Qualcomm Inc Securities Litigation, U.S. District Court, Southern District of California, No. 17-00121.