NEW YORK, Aug. 14, 2015 /PRNewswire/ -- WeissLaw LLP
announces that it filed a class action lawsuit on August 14, 2015, in the U.S. District Court for
the Central District of California
(the "Court"), on behalf of the shareholders of Broadcom Corp.
("Broadcom") against Broadcom, and its Board of Directors for,
among other things, violations of section 14(a) and 20(a) of the
Securities and Exchange Act of 1934 (the "Exchange Act").
The complaint arises out of a May 28,
2015, press release announcing that Broadcom had entered
into a definitive merger agreement with Avago Technologies Limited
("Avago"), pursuant to which Broadcom shareholders will receive
$54.50 in cash and 0.4378 of an Avago
share (the "Proposed Transaction"). The complaint seeks
injunctive relief on behalf of the named plaintiffs and all other
similarly situated shareholders of Broadcom as of May 28, 2015 (the "Class"). The named
plaintiffs are represented by WeissLaw LLP.
The named plaintiffs allege that certain of the defendants
breached their fiduciary duties of loyalty and due care owed to
Broadcom shareholders; and in an attempt to secure shareholder
approval of the Proposed Transaction, filed a materially false and
misleading registration statement on Form S-4 with the U.S.
Securities and Exchange Commission in violation of the Exchange Act
and their fiduciary duties of candor and full disclosure. The
omitted and/or misrepresented information is believed to be
material to Broadcom shareholders' ability to make an informed
decision whether to approve the Proposed Transaction.
If you wish to serve as lead plaintiff, you must move the Court
no later than sixty days from August
14, 2015. If you wish to discuss this action or have
any questions concerning this notice or your rights or interests,
please contact Joshua Rubin or
Kelly Keenan of WeissLaw LLP at
888.593.4771, or by e-mail at
stockinfo@weisslawllp.com. Any member of the Class may
move the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent Class
member.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients. For more information about the firm,
please go to: http://www.weisslawllp.com.
Contact:
WeissLaw LLP
Joshua Rubin, Esq.
Kelly Keenan, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
212.682.3025
www.weisslawllp.com
stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP