LOS
ANGELES, July 23, 2024 /PRNewswire/ --
UNITED STATES
DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA
IN RE
QUALCOMM
INCORPORATED
SECURITIES
LITIGATION
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Case No.
3:17-cv-00121-JO-MSB
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SUMMARY NOTICE OF (I) PROPOSED
SETTLEMENT
AND PLAN OF ALLOCATION; (II) SETTLEMENT HEARING; AND
(III) MOTION FOR ATTORNEYS' FEES AND LITIGATION EXPENSES
To:
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all persons or
entities who purchased or otherwise acquired the common stock of
Qualcomm Inc. ("Qualcomm") between February 1, 2012 and January 20,
2017, inclusive (the "Class Period"), and who were damaged
thereby.1
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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:
Jonathan D.
Uslaner
Bernstein Litowitz
Berger & Grossmann LLP
2121 Avenue of the
Stars, Suite 2575
Los Angeles, CA
90067
1-310-819-3472
settlements@blbglaw.com
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Gregg S.
Levin
Motley Rice
LLC
28 Bridgeside
Blvd.
Mount Pleasant, SC
29464
1-843-216-9000
qcomsettlementquestions@motleyrice.com
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By Order of the Court
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1 Certain persons and entities are
excluded from the Class by definition and others are excluded
pursuant to request. The full definition of the Class
including a complete description of who is excluded from the Class
is set forth in the full Settlement Notice.
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content:https://www.prnewswire.com/news-releases/bernstein-litowitz-berger--grossmann-llp-and-motley-rice-llc-announce-a-proposed-settlement-for-all-persons-or-entities-who-purchased-or-otherwise-acquired-the-common-stock-of-qualcomm-inc-between-february-1-2012-and-january-2-302203115.html
SOURCE Bernstein Litowitz Berger & Grossmann LLP and Motley
Rice LLC