To: DlphcOracl who wrote (10842 ) 3/7/2001 1:10:08 AM From: ~digs Respond to I guess so... reminds me of the NT fiasco a few weeks back. One day things are seemingly rosy, and the next day the company is no longer turning a profit. Not good... not good at all. How do you repair investor confidence after such an ordeal?biz.yahoo.com The complaint alleges that during the Class Period, defendants made positive but false statements about 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 Broadcom stock. 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.'' In reaction, Broadcom's stock fell 16% to $53, before closing at $53.625 on 2/27/01, and fell to $49.25 on 2/28/01. Plaintiffs seek to recover damages on behalf of all purchasers of Broadcom common stock during the Class Period (the ``Class'').
