Welcome to the Broadcom Corp. Class Action Litigation,
EY Settlement Website
The Broadcom Corp. Class Action Litigation is a class action lawsuit alleging false statements concerning alleged backdating and improper accounting for stock option grants between April 1998 and May 2003 by Broadcom Corporation ("Broadcom") and others.
Following mediated arm’s length negotiations, Lead Plaintiff, through Class Counsel Labaton Sucharow LLP, and the remaining defendant in the case, Ernst & Young LLP (“EY”) entered into an agreement to settle the lawsuit for $13 million. The proposed Settlement would resolve all remaining claims in this class action lawsuit. You may be a member of the proposed Class if you purchased or otherwise acquired Broadcom Class A common stock from February 14, 2006 through May 25, 2006, inclusive. This Settlement is in addiiton to the previously approved Settlement with Broadcom (the "Broadcom Settlement"), which totalled $160.5 million.
The proposed Settlement has been preliminarily approved by the Court, and Notice Packets are being mailed to potential Class Members. If you previously filed a Claim in the first Broadcom Settlement, you do not need to file another claim and to the extent your claim calculates to a Recognized Loss in the EY Settlement, you will receive a payment in accordance with the Court approved Plan of Allocation.
The following are important dates and deadlines in connection with the proposed Settlement:
- The Claim Filing Deadline was December 26, 2012
- The Exclusion Filing Deadline was November 19, 2012
- The Objection Filing Deadline was November 19, 2012
- The Settlement Hearing was held on December 3, 2012 at 10:00 a.m.
Please be advised that your rights may be affected by this class action lawsuit if you purchased or otherwise acquired Broadcom Class A common stock from February 14, 2006 through May 25, 2006, inclusive. Please be sure to read the Notice to fully understand your rights.