SAN FRANCISCO, Jan. 31, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in QUALCOMM Incorporated (NASDAQ:QCOM) to the securities class action lawsuit filed in the U.S. District Court for the Southern District of California and the March 24, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of QCOM before January 20, 2017 and suffered over $100,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/QCOM
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing QCOM@hbsslaw.com.
On January 17, 2017, Bloomberg reported that the U.S Federal Trade Commission filed a lawsuit against QCOM alleging that the Company forced Apple, Inc. to exclusively use its chips in return for lower licensing fees, unfairly cutting out competitors. In response the price of QCOM shares fell over 4% to close at $64.19 per share on January 17, 2017.
On January 20, 2017, CNBC reported that Apple sued Qualcomm for roughly $1 billion, alleging Qualcomm charged Apple royalties for technologies Qualcomm had “nothing to do with.”
CNBC also reported that Qualcomm has taken “radical steps” that include “withholding nearly $1 billion in payments from Apple as retaliation for responding truthfully to law enforcement agencies investigating them.” Apple reportedly added, “Despite being just one of over a dozen companies who contributed to basic cellular standards, Qualcomm insists on charging Apple at least five times more in payments than all the other cellular patent licensors we have agreements with combined.”
This news drove the price of QCOM shares down nearly 2.5% to close at $62.88 per share.
“We are investigating allegations made by both Apple and the FTC in their complaints filed against Qualcomm,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding QCOM should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email QCOM@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.