Qualcomm Settles Securities Litigation for $75,000,000

If you purchased or otherwise acquired the common stock of Qualcomm Incorporated between February 1, 2012, and January 20, 2017, you may be eligible to claim a portion of a $75,000,000 class action settlement.

Qualcomm has agreed to pay $75,000,000 to settle a class action lawsuit for alleged violations of federal securities laws by making materially false and misleading statements and omissions regarding its patent licenses and chipset agreements.

Can I Claim an Award?

To be eligible for an award from the settlement, you must be a member of the class. The class includes all persons or entities who purchased or otherwise acquired Qualcomm common stock between February 1, 2012, and January 20, 2017, inclusive, and who were damaged thereby. This includes those who bought Qualcomm stock during this period and suffered financial losses as a result of the alleged misrepresentations and omissions by Qualcomm.

Class members must have held their Qualcomm stock through at least one of the dates when corrective information was released to the market, which includes November 18, 2015, December 8, 2015, January 17, 2017, January 20, 2017, and January 23, 2017. If you sold your stock before these dates, you are not eligible to claim an award.

What Awards Can Class Members Claim?

The settlement provides a total of $75,000,000 in cash. The Net Settlement Fund, which is the Settlement Amount plus any interest earned thereon, minus any taxes, notice and administration costs, litigation expenses, and attorneys’ fees awarded by the Court, will be distributed to eligible class members. The estimated average recovery per eligible share is $0.07 before deductions for fees and expenses.

Class members will receive a pro rata share of the Net Settlement Fund based on their Recognized Loss Amounts. Recognized Loss Amounts are calculated based on the difference in the amount of alleged artificial inflation in the prices of Qualcomm common stock at the time of purchase or acquisition and at the time of sale, or the difference between the actual purchase price and sale price.

• Purchases/Acquisitions from February 1, 2012, through January 20, 2017: The Recognized Loss Amount will be calculated based on the difference in the amount of alleged artificial inflation per share on the date of purchase/acquisition and the date of sale.
• Sales from January 21, 2017, through April 20, 2017: The Recognized Loss Amount will be the lesser of the amount of alleged artificial inflation per share on the date of purchase/acquisition, the purchase/acquisition price minus the average closing price from January 23, 2017, through the date of sale, or the purchase/acquisition price minus the sale price.
• Held as of April 20, 2017: The Recognized Loss Amount will be the lesser of the amount of alleged artificial inflation per share on the date of purchase/acquisition or the purchase/acquisition price minus $55.80.

Hypothetical Example

If you purchased 100 shares of Qualcomm stock on February 1, 2012, at $60 per share and sold them on January 20, 2017, at $50 per share, your Recognized Loss Amount would be calculated as follows:

• Purchase price: $60
• Sale price: $50
• Recognized Loss Amount per share: $10.38 (artificial inflation on purchase date) - $5.92 (artificial inflation on sale date) = $4.46
• Total Recognized Loss Amount: 100 shares \* $4.46 = $446

Is Proof Required to Claim the Reward?

Yes, claimants need to provide proof to claim an award. Documentation may consist of copies of brokerage confirmation slips or monthly brokerage account statements, or an authorized statement from your broker containing the transactional and holding information found in a broker confirmation slip or account statement.

• Proof of purchase/acquisition of Qualcomm common stock during the Class Period.
• Proof of sale of Qualcomm common stock during the Class Period, if applicable.
• Proof of holdings as of specific dates, if applicable.

How to Claim Your Award

To claim your award, you must complete and submit a Claim Form with supporting documentation. You can file a claim online or download a claim form and mail to the Claims Administrator at:

Qualcomm Securities Litigation

c/o A.B. Data, Ltd.

P.O. Box 173043

Milwaukee, WI 53217

Ensure that your Claim Form and supporting documentation are postmarked or received no later than November 8, 2024.

Submitting a Claim

Follow these steps to submit your claim:

• Obtain a Claim Form from the official settlement website or request one by contacting the Claims Administrator.
• Complete the Claim Form with accurate information about your purchases, acquisitions, and sales of Qualcomm common stock.
• Attach copies of all required supporting documentation.
• Submit the completed Claim Form and documentation online or by mail to the Claims Administrator.

How do I Get Paid?

Once your claim is approved, you will receive your payment via check. The amount you receive will be based on your pro rata share of the Net Settlement Fund.

$75,000,000 Settlement Fund

The total settlement amount of $75,000,000 will be distributed to eligible class members after deducting the following:

• Attorneys’ fees: Up to 23% of the Settlement Fund, including any interest earned thereon.
• Litigation expenses: Up to $7.5 million.
• Notice and administration costs.
• Taxes.

Important Dates

• Fairness Hearing: September 27, 2024
• Deadline to File a Claim: November 8, 2024

When is the Qualcomm Settlement Payout?

Awards will be paid after the Court approves the Settlement and a plan of allocation, and after any appeals are resolved and the processing of all claims is complete.

Why is There a Class Action Settlement?

The class action settlement was reached to resolve claims that Qualcomm and certain of its officers made materially false and misleading statements and omissions regarding Qualcomm’s patent licenses and chipset agreements, which allegedly violated federal securities laws.

What Happens Next?

Next, the Court will hold a Fairness Hearing on September 27, 2024, to decide whether to approve the Settlement. If the Settlement is approved, the Claims Administrator will begin processing claims and distributing awards to eligible class members.