LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired QUALCOMM Incorporated (“QUALCOMM” or the “Company”) (NASDAQ: QCOM) securities between February 1, 2012 and January 17, 2017, inclusive (the “Class Period”). QUALCOMM investors have until March 24, 2017 to file a lead plaintiff motion.
Investors suffering losses on their QUALCOMM investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
According to the complaint filed in this class action lawsuit, throughout the Class Period Defendants made false and/or misleading statements regarding its alleged anticompetitive behavior, and/or failed to disclose that: (1) QUALCOMM was engaging and/or had engaged in anticompetitive conduct to maintain a monopoly for semiconductors used in mobile phones in violation of the FTC Act; (2) in turn, QUALCOMM lacked effective internal controls over financial reporting; and (3) as a result, the Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On January 17, 2017, Bloomberg reported that U.S. antitrust officials were preparing a lawsuit against QUALCOMM for allegedly utilizing unfair practices and creating a monopoly over the processing chips used in cellphones. The government’s allegations allegedly pertain to licensing agreements QUALCOMM entered into with Apple, Inc. to exclusively supply chips for Apple, Inc. phones.
On this news, shares of QUALCOMM fell over 4% on January 17, 2016.
If you purchased shares of QUALCOMM during the Class Period you may move the Court no later than March 24, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you 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 email to email@example.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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