Qualcomm Hit With Shareholder Suit Over FTC, Apple Claims

Law360, Los Angeles (January 24, 2017, 8:14 PM EST) -- Qualcomm Inc. was hit with a proposed class action in California federal court Monday alleging the company and its top officials misled investors and inflated share prices in the wake of Federal Trade Commission and Apple lawsuits alleging the company engaged in anti-competitive behavior with cellphone makers over its baseband processors.

The FTC last week said Qualcomm used its dominance over the sale of semiconductor chips used in cellular handsets — so-called baseband processors — to wrangle higher royalties and anti-competitive licensing terms from cellphone makers for its standard-essential patents.

Monday's suit alleges Qualcomm Interactive Corp. and a handful of its...

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