According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants made false and/or misleading statements and/or failed 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 FTC Act; (2) in turn, Qualcomm lacked effective internal controls over financial reporting; and (3) as a result, the Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A consolidated Complaint was filed on July 3, 2017. Defendants filed a Motion to Dismiss the consolidated Complaint on September 1. On March 18, 2019, the Court issued an Order denying Defendants' Motion to Dismiss.