Qualcomm Inc., a maker of microchips for communications equipment, was sued by New York State Comptroller Thomas DiNapoli for information about how the company spends investors' money for political purposes.
The lawsuit, made public today in Delaware Chancery Court in Wilmington, was filed by the New York State Common Retirement Fund. It is seeking access to books and records that might shed light on whether contributions are in the best interests of shareholders.
The pension fund, which holds stock in public companies, "has a right to be properly informed about the use of corporate funds to influence the political process," DiNapoli said today in a statement. DiNapoli said he sued after San Diego-based Qualcomm refused to turn over the data.
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