Shareholder Class Action Lawsuit Filed Against QUALCOMM Incorporated - QCOM
Jun. 14, 2018
RADNOR, Pa., June 14, 2018 (GLOBE NEWSWIRE) -- 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 the Company’s common stock between January 31, 2018 and March 12, 2018, inclusive (the “Class Period”).
IMPORTANT DEADLINE: Investors who purchased QUALCOMM 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 (D. 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 sign up with the firm and submit their information at http://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.
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 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 investment losses once QUALCOMM’s actions were revealed.
QUALCOMM investors have important legal options and are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 for additional information. QUALCOMM investors may also sign up with the firm and submit their information at http://kaskelalaw.com/case/qualcomm/. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.