An investigation on behalf of investors in QUALCOMM Incorporated (NASDAQ: QCOM) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 08/15/2018 -- An investigation was announced for investors in shares of QUALCOMM Incorporated (NASDAQ: QCOM) concerning potential breaches of fiduciary duties by certain directors of QUALCOMM.
Investors who are current long term investors in QUALCOMM Incorporated (NASDAQ: QCOM) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: QCOM stocks follows a lawsuit filed recently against QUALCOMM over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: QCOM stocks, concerns whether certain QUALCOMM directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that 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.
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.
Those who purchased shares of QUALCOMM Incorporated (NASDAQ: QCOM) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com