BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation 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. Law Offices of Howard G. Smith is preparing a lawsuit on behalf of investors to recover losses caused by the Company’s recent disclosures.
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 and have suffered a loss, or if you 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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