Qualcomm, Board Accused of Lying About Lackluster Diversity Push

Qualcomm Inc. and its board are facing shareholder litigation over claims they lied to the public about the company’s “fake it ‘til you make it” approach to diversifying its workforce and leadership.

The proposed class action accuses Qualcomm of responding to discrimination claims in court, investor pressure, and the national mood following George Floyd’s murder by offering false hype about policy changes that fell short or went nowhere.

Company leaders “resorted to lying” when they claimed they’d directed recruiters to emphasize diversity—instructions they “did not in fact give,” according to the 84-page complaint. Those were “not vague statements of optimism ...