The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of QUALCOMM Incorporated (NASDAQ: QCOM) who purchased shares between January 31, 2018 and March 12, 2018. The action, which was filed in the United States District Court for the Southern District of California, alleges that the Company violated federal securities laws.
In particular, the QCOM lawsuit alleges that (1) Qualcomm had secretly filed a unilateral notice with CFIUS in order to frustrate Broadcom's attempt to acquire the Company; and (2) investors suffered damages as a result of defendants' wrongful acts and omissions. On March 5, 2018, Broadcom announced that Qualcomm had filed a voluntary request for The Committee on Foreign Investment in the United States to initiate an investigation into Broadcom’s actions. Broadcom referred to this as a “blatant, desperate act by Qualcomm to entrench its incumbent board of directors and prevent its own stockholders from voting for Broadcom’s independent director nominees.”
Shareholders have until August 7, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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