An investigation on behalf of investors in QUALCOMM Incorporated (NASDAQ: QCOM) shares over potential wrongdoing at QUALCOMM Incorporated (NASDAQ: QCOM was announced and QUALCOMM Incorporated (NASDAQ: QCOM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/06/2019 -- Certain directors of QUALCOMM Incorporated are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of QUALCOMM Incorporated (NASDAQ: QCOM) and currently hold any of those QUALCOMM Incorporated (NASDAQ: QCOM shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain QUALCOMM directors breached their fiduciary duties and caused damage to the company and its shareholders.
Beginning in late 2017, Broadcom announced a series of unsolicited proposals to acquire all of the outstanding shares of QUALCOMM's common stock. The Committee on Foreign Investment in the United States ("CFIUS") is "an inter-agency committee authorized to review transactions that could result in control of a U.S. business by a foreign person ('covered transactions'), in order to determine the effect of such transactions on the national security of the United States."
The plaintiff claims that unbeknownst and undisclosed to investors, on January 29, 2018, QUALCOMM Incorporated secretly filed a voluntary request for CFIUS to initiate an investigation into Broadcom's actions in a brazen attempt to frustrate Broadcom's attempt to acquire the Company.
Once the Company's unilateral secret action was revealed to the market on March 5, 2018, and as the market continued to learn additional information about the nature and extent of QUALCOMM's secret action vis-à-vis CFIUS, and the ramifications therefrom, the price of the Company's common stock declined substantially.
On June 8, 2018, a lawsuit was filed against QUALCOMM Incorporated over alleged violations of Federal Securities Laws. The plaintiff claims that between January 31, 2018, and March 12, 2018, the defendants made materially false and misleading statements and failed to disclose to investors that QUALCOMM had secretly filed a unilateral notice with CFIUS in order to frustrate Broadcom's attempt to acquire the Company.
Those who purchased shares of QUALCOMM Incorporated (NASDAQ: QCOM) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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