Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into QUALCOMM Incorporated (NasdaqGS: QCOM).
In January 2017, the U.S. Federal Trade Commission (“FTC”) filed suit against the Company for anti-competitive trade practices alleging that it maintained a monopoly over chips for mobile phones using policies that violated industry agreements by demanding high royalty fees from customers to license its standard essential patents (“SEPs”) to buy its chips, refusing to license its SEPs to competitors, and entering into an exclusivity contract with Apple preventing other chip suppliers from working with it. Recently, the Court granted the FTC’s motion for partial summary judgment finding that industry agreements required Qualcomm to license its SEPs to modem chip suppliers, noting that both its own practices and statements emphasized in prior litigation contradict its present position that the industry agreements permit it to discriminate against component suppliers.
In the last several years, the Company has been fined $1.2 billion by the European Union, $975 million by China, $854 million by the Korea Fair Trade Commission, and $773 million by Taiwan (later reduced in a settlement) for anti-competitive practices.
KSF’s investigation is focusing on whether Qualcomm’s officers and/or directors breached their fiduciary duties to Qualcomm’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Qualcomm shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or click here.