SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In QUALCOMM Incorporated To Contact The Firm Before Lead Plaintiff Deadline

NEW YORK, Jan. 26, 2017 -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in QUALCOMM Incorporated (“QUALCOMM” or the “Company”) (NASDAQ:QCOM) of the March 24, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of California on behalf of all those who purchased QUALCOMM securities between February 1, 2012 and January 17, 2017 (the “Class Period”). The case, Shah v. Qualcomm Incorporated et al, No. 3:17-cv-00121 was filed on January 23, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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 Federal Trade Commission (“FTC”) Act; (2) accordingly, QUALCOMM lacked effective internal controls over financial reporting; and (3) as a result, QUALCOMM’s public statements were materially false and misleading.

Specifically, on January 17, 2017, Bloomberg published an article entitled, “Qualcomm Accused of Forcing Deal on Apple to Thwart Rivals” detailing a lawsuit filed on January 17, 2017 by the FTC. The article stated, among other things, that the Company “forced Apple Inc. to use its chips exclusively in return for lower licensing fees, unfairly cutting out competitors.” Furthermore, the FTC lawsuit accuses QUALCOMM “of illegally maintaining a monopoly for semiconductors used in mobile phones and pocketing elevated royalties from customers.”

On this news, QUALCOMM’s share price fell from $66.88 on January 13, 2017 to a closing price of $64.19 on January 17, 2017 —a $2.69 or a 4.02% drop.

Request more information now by clicking here: www.faruqilaw.com/QCOM. There is no cost or obligation to you.

Take Action

If you invested in QUALCOMM common stock or options between February 1, 2012 and January 17, 2017 and would like to discuss your legal rights, visit www.faruqilaw.com/QCOM. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding QUALCOMM’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330