Qualcomm Incorporated is an American multinational corporation that creates semiconductors, software, and services related to wireless technology.

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.

On May 4, 2017, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 17-CV-00121.

Lead Plaintiffs filed a consolidated Complaint 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.

Lead Plaintiffs filed a Motion for Class Certification on May 23, 2022. On March 20, 2023, the Court issued an Order granting in part and denying in part the Class Certification Motion.

On June 17, 2024, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on June 27. On September 27, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.