Qualcomm Wants Investor Suit Over Broadcom Deal Nixed
Law360 (June 26, 2020, 6:51 PM EDT) -- Qualcomm Inc. asked a California federal judge Thursday to dismiss a proposed class action that claims the company misled investors about a possible takeover, calling shareholders' arguments a "distraction" that doesn't make the case that the company lied to or misled them.
The San Diego-based telecommunications company said while it didn't tell shareholders it had contacted the Committee on Foreign Investment in the United States about a possible hostile takeover by Singapore-based chipmaker Broadcom, silence itself isn't misleading.
The company only has a "duty to speak" when it makes a misleading statement and needs to correct it, according to Thursday's motion...
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