Text of letter being mailed to Ms. Sarah Kollmer-Dorsey of the SEC.
"June 19, 2000
Ms. Sarah Kollmer-Dorsey
Securities & Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549-0702
Dear Ms. Kollmer-Dorsey:
I am a shareholder in QUALCOMM, Inc.
I am writing to bring to your attention the possibility of questionable professional conduct by Mr. Ed Snyder, an analyst with Chase H&Q. In general, this concerns a series of negative comments Mr. Snyder made about QUALCOMM over the past few weeks. Specifically, it concerns the possible relationship between negative comments he made this past week and what appeared to be heavy writing of then out-of-the-money Puts on QUALCOMM?s stock before his comments were made public.
In fact, others have noted that this type of activity has occurred on three separate occasions involving Mr. Snyder. First, in December 1999 just before options expiration, again this past January just before options expiration and finally last past week just before options expiration.
I believe that only the SEC has the power to look into this matter thoroughly and determine if there was front-running going on, or if Mr. Snyder is in some way part of a concerted and organized effort to damage the stock and business prospects of QUALCOMM.
I, and I am certain other QUALCOMM shareholders, would deeply appreciate your looking into this matter.
Very truly yours," |
