- Along with its FQ2 results, Qualcomm (QCOM) discloses it has received a Wells Notice from the SEC's L.A. office over alleged Chinese bribery. The office recommends the SEC file an enforcement action against the company.
- Qualcomm has made a Wells submission arguing it isn't violating federal international bribery laws, and doesn't believe action is needed. The company says it's continuing to cooperate with the SEC and DOJ.
- Chinese regulators have been carrying out an antitrust probe of Qualcomm widely seen as an effort to obtain lower 4G royalty rates.
- QCOM -4% AH.
at CNBC.com (Nov 18, 2014)