RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against QUALCOMM Incorporated (NASDAQ: QCOM) (“QUALCOMM” or the “Company”) on behalf of investors who purchased QUALCOMM’s common stock between January 31, 2018 and March 12, 2018, inclusive (the “Class Period”).
DEADLINE ALERT: 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 class. QUALCOMM investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 for additional details about this action and to discuss their legal rights and options. Investors may also submit their information to the firm online at www.kaskelalaw.com/case/qualcomm.
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. After QUALCOMM’s secret actions were revealed to the market on March 5, 2018, the price of QUALCOMM’s common stock substantially declined in value.
The complaint alleges that QUALCOMM made a series of materially false and misleading statements and failed to disclose to investors that QUALCOMM had secretly filed a unilateral notice with CFIUS in order to frustrate Broadcom’s attempt to acquire the Company. The complaint further alleges that, as a result of the foregoing, investors purchased QUALCOMM’s securities at artificially inflated prices during the Class Period and sustained significant investment losses once QUALCOMM’s actions were revealed.
QUALCOMM investors are encouraged to contact Kaskela Law LLC for additional details about this action and/or to submit their information to the firm online at www.kaskelalaw.com/case/qualcomm. Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.