The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Southern District of California
on behalf of purchasers of QUALCOMM Incorporated (Nasdaq: QCOM)
(“QUALCOMM” or the “Company”) securities during the period between
January 31, 2018 and March 12, 2018, inclusive (the “Class Period”).
Investors who wish to become proactively involved in the litigation have
until August 7, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in QUALCOMM securities during
the Class Period. Members of the class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff. No class has yet
been certified in the above action.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that QUALCOMM secretly filed a voluntary request
for the Committee on Foreign Investment in the United States (“CFIUS”)
to initiate an investigation into Broadcom Limited’s (“Broadcom”)
actions to frustrate Broadcom’s attempt to acquire the Company.
According to the complaint, following a March 5, 2018 press release
disclosing the secret actions with respect to CFIUS, a March 6, 2018
report disclosing a letter from the U.S. Department of Treasury
(“Department of Treasury”) and a Modification of Interim Order from
CFIUS, a March 12, 2018 report of another letter from the Department of
Treasury and President Donald J. Trump’s order blocking Broadcom from
taking further action regarding the acquisition of the Company, the
value of QUALCOMM shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in
QUALCOMM securities purchased on or after January 31, 2018 and held
through the revelation of negative information during and/or at the end
of the Class Period and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please contact Brower Piven either by email at firstname.lastname@example.org
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
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