Lawsuit Overview
December 28, 2017 - The lead plaintiff filed a notice of appeal.
November 29, 2017 - The court granted the parties' joint motion and dismissed all remaining claims with prejudice. The court entered a judgement in favor of the defendants' and closed the case.
October 20, 2017 - The court granted in part and denied in part defendants' motion to dismiss.
May 8, 2017 - Defendants filed a motion to dismiss.
March 17, 2017 - The lead plaintiff filed a second amended complaint.
January 27, 2018 - The court granted defendants' motion to dismiss with leave to amend.
June 28, 2016 - Defendants filed a motion to dismiss.
April 29, 2016 - The lead plaintiff filed an amended complaint on behalf of investors who purchased QUALCOMM Inc (NASDAQ: QCOM) common shares between April 7, 2014 and July 22, 2015. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between April 7, 2014 and July 22, 2015.
February 19, 2016 - Lead plaintiff and lead counsel were appointed.
November 30, 2015 - An investor in shares of QUALCOMM Inc (NASDAQ: QCOM) filed a lawsuit in the U.S. District Court for the Southern District of California over alleged violations of Federal Securities Laws by QUALCOMM Inc in connection with certain allegedly false and misleading statements made between November 6, 2014 and July 22, 2015.
According to the complaint the plaintiff alleges on behalf of purchasers of QUALCOMM Inc (NASDAQ: QCOM) common shares between November 6, 2014 and July 22, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 6, 2014 and July 22, 2015 the defendants made false and/or misleading statements and/or failed to disclose that the Company was experiencing weaker-than-expected sales of devices that included the Company’s products and, as a result, the Company’s statements about its business, operations, and prospects lacked a reasonable basis.
On July 22, 2015, QUALCOMM Inc announced its third-quarter fiscal 2015 results and lowered its sales and earnings forecasts due, in part, to weaker-than-expected original equipment manufacturer sales of devices that included the Company’s products. QUALCOMM Inc explained on the earnings call discussing these results that it had an inventory build-up of chips.
Shares of QUALCOMM Inc (NASDAQ: QCOM) declined on July 23, 2015 to as low as $60.83 per share.
On November 4, 3015 QUALCOMM Inc announced its fourth quarter and fiscal 2015 results. QUALCOMM Inc announced that its Total Revenue declined from over $26.48 billion for the 12 months period that ended on September 28, 2014 to over $25.28 billion for the 12 months period that ended on September 27, 2015 and that its Net Income for those respective time periods declined from over $7.96 billion to over $5.27 billion.
Shares of QUALCOMM Inc (NASDAQ: QCOM) declined to as low as $49.92 per share on November 5, 2015, respectively $47.52 per share on November 18, 2015.