NEW YORK, June 11, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against QUALCOMM Incorporated ("QUALCOMM" or the "Company") (NASDAQ: QCOM) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired QUALCOMM securities between January 31, 2018, and March 12, 2018, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/qcom.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that QUALCOMM had secretly filed a unilateral notice with CFIUS in order to frustrate Broadcom's attempt to acquire the Company.
It is alleged that at the end of 2017, Broadcom publicized several 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." On January 29, 2018, QUALCOMM covertly filed a voluntary request for CFIUS to investigate Broadcom. On March 5, 2018, once investors heard about this secretly filed action and learned additional information about the nature and extent of QUALCOMM's secret action vis-à-vis CFIUS, QUALCOMM stock dropped.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/qcom or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in QUALCOMM you have until August 7, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC