Qualcomm was sued by the New York State Common Retirement Fund for information about how the company spends investors’ money for political purposes.
 
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,” according to state comptroller Thomas DiNapoli. Qualcomm reportedly refused to turn over data, hence, the lawsuit. The fund is the largest public pension fund investor in Qualcomm stock, with a $378 million stake, according to the complaint.
 
Data from OpenSecrets.org, which tracks political donations, shows the company spent more than $6 million on lobbying each year from 2007 to 2011. The Qualcomm Inc. Political Action Committee, based in Washington, contributed $166,500 to federal candidates in 2012, 53 percent to Democrats and 48 percent to Republicans, according to OpenSecrets.org. The PAC raised a total of $342,483 last year through Nov. 26 and spent $261,737, according to the website. - Bloomberg News