Cellphone chip maker Qualcomm released a list of its donations to politically active tax-exempt organizations Friday as part of a settlement with the New York State comptroller’s office, reports The New York Times.
Comptroller Thomas DiNapoli sued the tech firm last month on behalf of the New York public employees’ pension fund, asserting its right as a Qualcomm shareholder to review the company’s political spending. State officials have pursued disclosure regulations for tax-exempt 501(c)(4) groups that engage in politicking but are not required to identify their contributors.
Qualcomm published a list of previously undisclosed contributions on its Web site after Mr. DiNapoli announced the settlement, under which he dropped the lawsuit. The comptroller called the agreement and the firm’s disclosure “a significant milestone” in transparency on corporate political spending.Return to Top