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Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In QUALCOMM Incorporated To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in QUALCOMM Incorporated (“QUALCOMM” or the “Company”) (NASDAQ:QCOM) of the March 24, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of California on behalf of all those who purchased QUALCOMM securities between February 1, 2012 and January 17, 2017 (the “Class Period”).  The case, Shah v. Qualcomm Incorporated et al, No. 3:17-cv-00121 was filed on January 23, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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 Federal Trade Commission (“FTC”) Act; (2) accordingly, QUALCOMM lacked effective internal controls over financial reporting; and (3) as a result, QUALCOMM’s public statements were materially false and misleading.

Specifically, on January 17, 2017, Bloomberg published an article entitled, “Qualcomm Accused of Forcing Deal on Apple to Thwart Rivals” detailing a lawsuit filed on January 17, 2017 by the FTC. The article stated, among other things, that the Company “forced Apple Inc. to use its chips exclusively in return for lower licensing fees, unfairly cutting out competitors.” Furthermore, the FTC lawsuit accuses QUALCOMM “of illegally maintaining a monopoly for semiconductors used in mobile phones and pocketing elevated royalties from customers.”

On this news, QUALCOMM’s share price fell from $66.88 on January 13, 2017 to a closing price of $64.19 on January 17, 2017 —a $2.69 or a 4.02% drop.

Take Action

If you invested in QUALCOMM common stock or options between February 1, 2012 and January 17, 2017 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding QUALCOMM’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

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* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330


Case Details


  • 01/26/2017

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