CCC is Preparing Claims for Qualcomm Investors, Deadline Only Weeks Away

Case Name: Qualcomm

Settlement Fund: $75,000,000

Claim Filing Deadline: 11/8/2024

Class Period: 2/1/2012 -- 1/20/2017

How CCC can help

Looming deadline, five-year class period that begins over a decade ago, widely held stock... The upcoming Qualcomm settlement could cause headaches for institutional investors planning to participate in this excellent recovery opportunity. It is also a perfect example of why investors choose to file claims with Chicago Clearing Corporation (CCC).

CCC is adept at retrieving vast amounts of data, no matter how old or what format that data is in. We likewise can consolidate that trade data into a clean, readable format for smooth claims recovery process.  With CCC, the burden of filing claims internally is eliminated and you never have to worry about deadlines again.

What this case is about

According to plaintiffs, Qualcomm's domination of the chipset industry came about by "highly exclusionary" anti-competitive practices. They allege that starting in 2008, Qualcomm executives amended long-standing licensing policies and began to refuse offering chipsets to its competitors. Allegedly bad ethics made for a $10 billion profit, but eventually attracted regulatory scrutiny.

In August 2014, the Korea Fair Trade Commission (KFTC) began a two-and-a-half year inquiry into Qualcomm's practice, culminating in a January 5, 2017 report which found Qualcomm refused or restricted the licensing of mobile communications SEPs (Standard-Essential Patents) that are essential in manufacturing and selling the chipsets in market.” The KFTC also levied a nearly $1 billion fine on the company.

Two weeks later, on January 20, 2017, Apple filed a lawsuit against Qualcomm, claiming, among other things, that "to protect this business scheme,"Apple said in a statement, "Qualcomm has taken increasingly radical steps, most recently withholding nearly $1B in payments from Apple as retaliation for responding truthfully to law enforcement agencies investigating them." (Apple and Qualcomm settled in 2019.)

The class period for this settlement begins on the date of Apple's suit, which happened to be a Friday. Qualcomm price closed at $62.88 and opened at $58.67 the following Monday, eventually closing at $54.88.