Qualcomm Gets Investor Broadcom Suit Dismissed (Corrected)

Qualcomm Inc. fought off a would-be securities class suit in California federal district court accusing the company of secretly asking the government to investigate and prevent Broadcom Ltd.'s merger attempt.

Investors said Qualcomm secretly asked the Committee on Foreign Investment in the United States to investigate Broadcom, then based in Singapore, and tank the deal. But the investors didn’t adequately allege Qualcomm intended to deceive them or that any deceptions caused their losses, the U.S. District Court for the Southern District of California said Tuesday.

The investors properly alleged that Qualcomm misled them when it didn’t disclose its active discussions ...