NY comptroller drops Qualcomm disclosure lawsuit

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Associated Press

Posted on February 22, 2013 at 12:00 PM

Updated Friday, Feb 22 at 2:02 PM

ALBANY, N.Y. (AP) — New York's comptroller has dropped his lawsuit against Qualcomm Inc. after the wireless technology company agreed to disclose more information about its political spending.

The lawsuit filed Jan. 2 in Delaware sought a court order to inspect company records, saying the San Diego-based corporation rebuffed prior requests for the information.

Comptroller Thomas DiNapoli (dee-NAP'-oh-lee) is sole trustee of New York's pension fund for public workers, which has 5.5 million Qualcomm shares valued at $359 million.

His office says the company spent more than $4.5 million on lobbying last year.

Qualcomm says it will post online its contributions to political candidates and political parties, political spending to trade associations and certain nonprofit organizations, and contributions to influence ballot measures.

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