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Broadcom Discloses SEC Probe Into Litigation Reserves

DOW JONES NEWSWIRES The U.S. Securities and Exchange Commission is investigating Broadcom Corp.'s (BRCM) accounting of litigation reserves as far back as June 2010, the company disclosed Friday. Shares fell 2.7% at $35.75 after hours Friday after the chip maker said the SEC's Los Angeles office said it will conduct a formal investigation into the matter. In a public filing with the SEC Friday, Broadcom said it believes a former employee's allegations in April about litigation reserves in the first quarter of 2011 triggered the investigation. The company held reserves at the time to address intellectual-property claims. Broadcom said it completed an internal review of the allegations with outside counsel and didn't find any improprieties. The internal review also determined the company shouldn't restate its financial statements for 2010 and the first quarter of 2011. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Broadcom (BRCM)
DateTimeHeadline
02/12/201608:59:41Amended Statement of Ownership (sc 13g/a)
02/11/201617:25:23Termination of Registration of a Class of Security Under Section...
02/10/201610:53:11Amended Statement of Ownership (sc 13g/a)
02/10/201610:50:03Amended Statement of Ownership (sc 13g/a)
02/05/201606:02:02Notice of Effectiveness (effect)
02/02/201616:09:23Current Report Filing (8-k)
02/02/201609:02:39Current Report Filing (8-k)
02/01/201617:28:01(25-NSE)
02/01/201617:01:17Post-effective Amendment to an S-8 Filing (s-8 Pos)
02/01/201616:58:16Post-effective Amendment to an S-8 Filing (s-8 Pos)
02/01/201616:57:24Post-effective Amendment to an S-8 Filing (s-8 Pos)
02/01/201616:57:24Post-effective Amendment to an S-8 Filing (s-8 Pos)
02/01/201616:55:13Post-effective Amendment to an S-8 Filing (s-8 Pos)
02/01/201616:54:23Post-effective Amendment to an S-8 Filing (s-8 Pos)
02/01/201616:53:35Post-effective Amendment to an Automatic Shelf Registration of...
02/01/201616:52:44Post-effective Amendment to an S-8 Filing (s-8 Pos)
02/01/201616:47:28Post-effective Amendment to Registration Statement (pos Am)
01/25/201619:30:00Avago Technologies and Broadcom Announce Preliminary Election...
01/25/201613:52:57Amended Statement of Ownership (sc 13g/a)
01/25/201608:00:00Broadcom-Based Products Receive Industry's First DOCSIS® 3.1...

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