LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it is investigating potential claims on behalf of investors of Qualcomm, Inc. ("Qualcomm" or the "Company") (Nasdaq: QCOM). The investigation concerns the Company’s and its officers’ possible violations of federal securities laws by issuing materially misleading information to the investing public concerning the financial risks facing the Company. Investors that have suffered losses on their Qualcomm investment are encouraged to contact Lesley Portnoy, Esquire at 310-201-9150.
Qualcomm is a global semiconductor company that designs, manufacturers and markets worldwide digital communications products and services. The Company generates revenues from the sale of its microchips to mobile-phone manufacturers and from its patent portfolio via perpetual license agreements with third-party manufacturers, primarily in China.
On July 22, 2015, after the markets closed, Qualcomm issued a press release that reported its third-quarter 2015 results; and, lowered its sales and earnings forecasts due, in part, to weaker-than-expected OEM sales of devices that included the Company’s products. Qualcomm explained on the earnings call discussing these results that it had an inventory build-up of chips.
On this news shares of Qualcomm fell $2.41 per share, or 3.75 percent, to close at $61.78 per share on July 23, 2015, on high trading volume, thereby damaging investors.
If you purchased Qualcomm securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by e-mail please include your mailing address, telephone number and number of shares purchased.
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