NEW YORK, Dec. 01, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Qualcomm Incorporated (“Qualcomm”) (NASDAQ:QCOM) between November 6, 2014 and July 22, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of California. If you purchased or otherwise acquired Qualcomm Incorporated securities between November 6, 2014 and July 22, 2015, your rights may be affected by this action. To get more information go to:
http://zlk.9nl.com/qualcomm-incorporated-qcom
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that the Company was experiencing weaker-than-expected sales of devices that included the Company’s products and, as a result, the Company’s statements about its business, operations, and prospects lacked a reasonable basis.
On July 22, 2015, after the market closed, Qualcomm issued a press release that reported its third-quarter 2015 results and lowered its sales and earnings forecasts due, in part, to weaker-than-expected original equipment manufacturer sales of devices that included the Company’s products. Qualcomm explained on the earnings call discussing these results that it had an inventory build-up of chips.
If you suffered a loss in Qualcomm Incorporated you have until January 29, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.