LOS ANGELES, July 23, 2024 /PRNewswire/ -- 

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA

SUMMARY NOTICE OF (I) PROPOSED SETTLEMENT
AND PLAN OF ALLOCATION; (II) SETTLEMENT HEARING; AND
(III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES

PLEASE READ THIS NOTICE CAREFULLY; YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of California, that the Court-appointed Lead Plaintiffs Sjunde AP-Fonden and Metzler Asset Management GmbH, on behalf of themselves and the Court-certified Class, in the above-captioned securities class action (the "Action") have reached a proposed settlement of the Action with defendants Qualcomm Inc. ("Qualcomm") and Derek K. Aberle, Steven R. Altman, Donald J. Rosenberg, William F. Davidson, Jr., Paul E. Jacobs, and Steven M. Mollenkopf (collectively, "Defendants") for $75,000,000 in cash that, if approved, will resolve all claims in the Action.

A hearing will be held on September 27, 2024 at 9:00 a.m., before the Honorable Jinsook Ohta, United States District Judge, either in person in Courtroom 4C of the Edward J. Schwartz United States Courthouse, 221 West Broadway, San Diego, CA 92101, or by telephone or videoconference (in the discretion of the Court), to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the releases specified and described in the Stipulation and Agreement of Settlement dated June 17, 2024 should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's motion for attorneys' fees and payment of litigation expenses should be approved.

If you are a member of the Class, your rights will be affected by the Settlement, and you may be entitled to share in the Net Settlement Fund.  This notice provides only a summary of the information contained in the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses (the "Settlement Notice").  You may obtain copies of the Settlement Notice and the Claim Form by contacting the Claims Administrator at Qualcomm Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173043, Milwaukee, WI 53217, 1-877-390-3401, info@QualcommSecuritiesLitigation.com.  Copies of the Settlement Notice and Claim Form can also be downloaded from the website for the Action, www.QualcommSecuritiesLitigation.com. 

If you are a Class Member, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form online or postmarked no later than November 8, 2024.  If you are a Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action. 

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's motion for attorneys' fees and litigation expenses, must be filed with the Court and delivered to Lead Counsel and counsel for Defendants such that they are received no later than September 6, 2024, in accordance with the instructions set forth in the Settlement Notice.

Please do not contact the Court, the Clerk's office, Qualcomm, any other Defendant in the Action, or their counsel regarding this notice.  All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Claims Administrator or Lead Counsel.

Requests for the Settlement Notice and Claim Form should be made to the Claims Administrator:

Qualcomm Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173043
Milwaukee, WI 53217
1-877-390-3401
info@QualcommSecuritiesLitigation.com
www.QualcommSecuritiesLitigation.com

All other inquiries should be made to Lead Counsel:

By Order of the Court

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SOURCE Bernstein Litowitz Berger & Grossmann LLP and Motley Rice LLC