The Shareholders Foundation announces that an investigation on behalf of investors of QUALCOMM, Inc. (NASDAQ:QCOM) shares was launched over potential securities laws violations by QUALCOMM and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of QUALCOMM, Inc. (NASDAQ:QCOM)have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of QUALCOMM, Inc. (NASDAQ:QCOM) concerning whether a series of statements QUALCOMM, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
QUALCOMM, Inc. reported that its Total Revenue rose from over $10.98 billion for the 12 months period that ended on Sept. 26, 2010 to over $24.86 billion for the 12 months period that ended on Sept. 29, 2013 and that its repsecitve Net Income increased from over $3.52 billion to over $6.85 billion.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) grew from $44.18 per share in October 2010 to as high as $81.32 per share on April 17, 2014.
Then on April 23, 2014, QUALCOMM, Inc. reported its first quarter 2014 financial results. Among other things, QUALCOMM, Inc. disclosed that on January 27, 2012, QUALCOMM, Inc. learned that the U.S. Attorney’s Office for the Southern District of California/Department of Justice (collectively, DOJ) had begun an investigation regarding the Company’s compliance with the Foreign Corrupt Practices Act (FCPA) and that on March 13, 2014, QUALCOMM, Inc. received a Wells Notice from the SEC’s Los Angeles Regional Office indicating that the staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company for violations of the anti-bribery, books and records and internal control provisions of the FCPA. Shares of QUALCOMM, Inc. declined from over $81 per share on April 17, 2014 to $77.03 per share during April 24, 2014.
On May 6, 2014, NASDAQ:QCOM shares closed at $79.31 per share.
Those who purchased shares of QUALCOMM, Inc. (NASDAQ:QCOM), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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