Securities
Sep. 14, 2010
Broadcom Founders Head to Court
Exposing the company's two billionaire co-founders to a round of fresh liability, a federal Los Angeles judge ruled Monday that a shareholder suit stemming from stock option backdating will go to trial.
Daily Journal Staff Writer
LOS ANGELES - A U.S. judge ruled Monday that a long-pending shareholder law suit against Broadcom Corp.'s two billionaire co-founders over their role in a stock option scandal will go before a jury, exposing them to hundreds of millions of dollars in new liability.
Company leaders had hoped to dismiss the case, which is the only remaining legal fallout from Broadcom's 2007 $2....
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