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Qualcomm Hit By Class Suit Over Sunk $117B Broadcom Deal

Law360 (June 11, 2018, 7:36 PM EDT) -- Qualcomm Inc. was hit Friday with a proposed shareholder class action in California federal court over Broadcom Ltd.'s thwarted $117 billion bid to take over its rival, alleging the chipmaker’s executives artificially pumped up share prices while “secretly” taking steps to kill the deal.

The proposed class action blames Qualcomm’s board of directors for failing to mention in federal securities filings that it had asked the Committee on Foreign Investment in the United States to investigate the proposed merger on national security grounds.

That review ultimately...
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