On or around 03/19/2019 (Ongoing date of last review)
Filing Date: January 23, 2017
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.
Company & Securities Information
Defendant: Qualcomm Incorporated
Industry: Communications Equipment
Headquarters: United States
Ticker Symbol: QCOM
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Rasesh Shah, et al. v. Qualcomm Incorporated, et al.