FOX & KILSHEIMER LLP FILES
SECURITIES FRAUD CLASS ACTION
AGAINST BROADCOM CORPORATION.
NEW YORK – March 9, 2001– Kaplan Fox & Kilsheimer LLP (www.KaplanFox.com) has filed a class action against Broadcom Corporation and certain of the Company’s officers and
directors in the United States District Court for the Central District of California. The suit is brought on behalf of all persons or entities who purchased the
common stock of Broadcom Corporation (“Broadcom”) (NASDAQ: BRCM) between July 31, 2000 and March 6, 2001 inclusive (the “Class Period”).
charges Broadcom and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Broadcom is a provider of highly integrated silicon
solutions that enable broadband digital transmission of voice, video and data to and throughout the home and within the business enterprise. The complaint alleges that
during the Class Period, defendants made false and misleading statements regarding Broadcom's results and business while concealing material adverse information about
agreements with certain companies it acquired, which essentially resulted in Broadcom buying its own revenues. As a result, Broadcom's stock traded at artificially
inflated levels, permitting the three individual defendants to sell $45.8 million worth of their Broadcom stock.
Then, on 2/27/01, The Wall Street Journal published an article on
Broadcom entitled "Warrant Deals Raise Concerns on Broadcom," in which analysts and accounting experts questioned the "legitimacy" of the transactions
and termed the agreements "troubling." Broadcom's stock immediately dropped, falling 16% to $53, before closing at $53.625 on 2/27/01, and falling to $49.25 on
Plaintiff seeks to recover damages on behalf of the Class and is
represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices in New York and San Francisco, has many years of experience in prosecuting investor class
actions and actions involving financial fraud. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.KaplanFox.com.
If you are a member of the Class, you may move the court no later
than May 4, 2001, to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you have any questions about this Notice, the action, your rights, or your interests,
please e-mail us at mail@KaplanFox.com or contact:
Frederic S. Fox, Esq.
Jonathan K. Levine, Esq.
Hae Sung Nam, Esq.
Kaplan Fox & Kilsheimer LLP
805 Third Avenue - 22nd Floor
New York, NY 10022
Fax: (212) 687-7714
E-mail address: mail@KaplanFox.com
Back to the Main List
Please Click Here to Join the Class Actions or Request Information