Law360, Los Angeles (April 23, 2014, 10:47 PM EDT) -- Qualcomm Inc. might be slapped with a U.S. Securities and Exchange Commission enforcement action over allegations that it bribed individuals associated with Chinese state-owned companies or agencies, the company disclosed Wednesday in a securities filing.
The telecommunications company's quarterly earnings report said SEC staff had recommended that the federal agency file a civil suit against the company for violations of the anti-bribery, books and records, and internal control provisions of the Foreign Corrupt Practices Act.
Qualcomm said it had learned of the preliminary determination through a Wells notice it received from the SEC's Los Angeles office March 13. The notice said...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!