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: Netflix branches into films with 'Crouching Tiger' sequel

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

What's PayPal's first solo move?

14 hours ago

PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challeng ...

AOL to feed more video, news to Microsoft's MSN

19 hours ago

AOL will provide Microsoft's MSN with more video and additional news stories from popular sites such as The Huffington Post and TechCrunch in an expansion of a deal aimed at selling more digital advertising.

Microsoft to tap $2-trillion Indian cloud market

23 hours ago

Microsoft announced plans Tuesday to offer its commercial cloud services from Indian data centres as it seeks to tap what it calls a $2-trillion market in the country where Internet use is growing rapidly.

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.