RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC is investigating QUALCOMM Incorporated (NASDAQ: QCOM) (“QUALCOMM” or the “Company”) on behalf of investors.
A shareholder class action complaint has been filed against QUALCOMM on behalf of investors who purchased the Company’s common stock between January 31, 2018 and March 12, 2018, inclusive (the “Class Period”).
As detailed in the shareholder class action complaint, beginning in late 2017, Broadcom Limited (“Broadcom”) announced a series of unsolicited proposals to acquire the outstanding shares of QUALCOMM’s common stock. Unbeknownst and undisclosed to investors, on January 29, 2018, QUALCOMM secretly filed a voluntary request for the Committee on Foreign Investment in the United States (“CFIUS”) to initiate an investigation into Broadcom’s actions in a brazen attempt to frustrate Broadcom’s attempt to acquire the Company.
Once QUALCOMM’s unilateral secret action was revealed to the market on March 5, 2018, and as the market continued to learn additional information about the nature and extent of QUALCOMM’s secret action vis-à-vis CFIUS, the price of QUALCOMM’s common stock substantially declined in value. The shareholder class action complaint further alleges that, as a result of the foregoing, investors purchased QUALCOMM’s common stock at artificially inflated prices during the Class Period and sustained significant investment losses once QUALCOMM’s action was revealed to the market.
Investors who purchased QUALCOMM’s common stock during the Class Period may, no later than August 7, 2018, seek to be appointed as a lead plaintiff representative of the investor class. QUALCOMM investors are encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 for additional information or to discuss their important legal rights and options. QUALCOMM investors may also visit http://kaskelalaw.com/case/qualcomm/ to submit their information online.
Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.