Spotlight: New York sues Qualcomm over political spending disclosure

The New York State comptroller, Thomas P. DiNapoli, is suing mobile chip maker Qualcomm for the right to inspect the company's books in order to determine how shareholder funds are being spent on political activities. The comptroller is suing Qualcomm on behalf of New York State Common Retirement Fund, which has been seeking greater visibility into Qualcomm's political spending. The comptroller said that Qualcomm spent $4.5 million on lobbying efforts last year. In response, Qualcomm's general counsel Donald Rosenberg said that the chip maker is "well regarded for its open and transparent culture and fully complies with all local, state and federal laws governing political activity and the disclosure of that activity," according to a report by the New York Times. Read more