NY comptroller sues Qualcomm on political spending

Jan 03, 2013

New York's comptroller has sued Qualcomm Inc. in an attempt to compel the wireless technology company to disclose its political spending to him as a shareholder.

The lawsuit filed Wednesday in Delaware seeks a court order to inspect company records, saying prior requests for the information have been rebuffed by the San Diego-based corporation. The suit cites studies showing corporate political spending tends to hurt investor returns.

Comptroller Thomas DiNapoli is sole trustee of New York's for public workers, which has 6.1 million Qualcomm shares valued at almost $380 million.

The comptroller's office says the company spent more than $4.5 million on lobbying last year.

didn't initially respond Thursday to a request for comment.

Explore further: Venture investments jump to $9.5B in 1Q

5 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Qualcomm to invest $120M in Japan's Sharp

Dec 04, 2012

Sharp Corp. says Qualcomm Inc. will become a shareholder with an investment of up to 9.9 billion yen ($120 million) that will fund joint development of new LCD screens for mobile devices.

Apple's Grand Central store opening on December 9

Dec 02, 2011

Apple announced on Thursday it will open its new store in Grand Central Terminal next week as state authorities said they are looking into whether the company is paying enough for the prime location.

Qualcomm ups dividend, approves up to $4B buyback

Mar 06, 2012

(AP) -- Mobile phone chip-maker Qualcomm Inc. said Tuesday that its board approved the increase of its quarterly dividend by 16 percent to 25 cents and up to $4 billion in stock buybacks.

Qualcomm shuts FLO TV, sells spectrum to AT&T

Dec 20, 2010

US technology company Qualcomm, after pulling the plug on its FLO TV service, announced Monday it was selling its US wireless spectrum licenses to telecom giant AT&T for over 1.9 billion dollars.

Recommended for you

Venture investments jump to $9.5B in 1Q

54 minutes ago

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into an increasing number of deals, according to a report due out Friday.

Weibo IPO below expectations, raises $285.6 mn

Apr 17, 2014

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

Apr 17, 2014

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

Jimee
not rated yet Jan 04, 2013
About time we fought back.

More news stories

Venture investments jump to $9.5B in 1Q

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into an increasing number of deals, according to a report due out Friday.

White House updating online privacy policy

A new Obama administration privacy policy out Friday explains how the government will gather the user data of online visitors to WhiteHouse.gov, mobile apps and social media sites. It also clarifies that ...

Hackathon team's GoogolPlex gives Siri extra powers

(Phys.org) —Four freshmen at the University of Pennsylvania have taken Apple's personal assistant Siri to behave as a graduate-level executive assistant which, when asked, is capable of adjusting the temperature ...

Leeches help save woman's ear after pit bull mauling

(HealthDay)—A pit bull attack in July 2013 left a 19-year-old woman with her left ear ripped from her head, leaving an open wound. After preserving the ear, the surgical team started with a reconnection ...

Scientists tether lionfish to Cayman reefs

Research done by U.S. scientists in the Cayman Islands suggests that native predators can be trained to gobble up invasive lionfish that colonize regional reefs and voraciously prey on juvenile marine creatures.