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Qualcomm Wants Out of Board Diversity-Based Shareholder Suit

May 10, 2021, 8:33 PM

Qualcomm Inc. shareholders who accused it of falling short of its diversity commitments are involved in a “misguided attempt to capitalize on” national conversations about race, the company told a federal judge in Delaware.

The shareholders didn’t make a demand on the semiconductor company’s board before suing or explain why doing so would have been futile, and they “offer no facts suggesting that any statement was false or misleading,” Qualcomm said in a brief accompany its motion to dismiss the lawsuit filed in the U.S. District Court for the District of Delaware.

The July 2020 shareholder derivative suit accused the ...

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