Qualcomm receives SEC Wells Notice for Chinese bribery probe


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.

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Comments (2)
  • ECapo
    , contributor
    Comments (737) | Send Message
     
    QCOM will be back around 70 soon.
    23 Apr 2014, 05:13 PM Reply Like
  • jak279
    , contributor
    Comments (11) | Send Message
     
    Hope so I'd like to buy more. For long term investors this is just a minor blip.
    23 Apr 2014, 11:05 PM Reply Like
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