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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 (487) | Send Message
     
    QCOM will be back around 70 soon.
    23 Apr, 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, 11:05 PM Reply Like
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