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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Ibexx who wrote (6020)	8/20/2001 9:11:09 PM
From: Stoctrash	Read Replies (2) \| Respond to of 6531

Broadcom Sued Over Defaulted Payments Remember..don't blame me, blame those who run the company. You clown longs have to ask yourself: Why can't they pay? Where is all that cash? Why are insiders selling near the lows when they said things were more stable? How bad and when do they warn again? ============= Business; Financial Desk IN BRIEF / TECHNOLOGY Broadcom Sued Over Defaulted Payments Bloomberg News 08/16/2001 Los Angeles Times Home Edition C-2 Broadcom Corp. has been sued by a major customer, 3Com Corp., which accused the Irvine chip maker of defaulting on two quarterly interest payments on a $21-million promissory note. 3Com issued the note Dec. 4, after the companies agreed to jointly develop, sell and market network-interface cards based on the Gigabit Ethernet data standard. Gigabit Ethernet cards connect computers on a network 10 to 100 times faster than the previous generation of cards, which are typically used in most offices. Broadcom supplies components to Santa Clara-based 3Com to make networking equipment. 3Com expected interest payments of $313,782 on April 1 and $244,053 on July 1 from Broadcom, the lawsuit said. As a result of the missed payments, Broadcom owes more than $21 million, according to the complaint, which was filed Tuesday in Santa Clara Superior Court. 3Com is asking a judge to order Broadcom to pay the note and interest.