Pursuant to 15 U.S.C. 78u-4(a)(3)(A)(i), Seeger Weiss LLP hereby gives notice that on March 14, 2001, a class action lawsuit was filed in the United States District Court for the Central District of California on behalf of all persons who purchased the publicly traded securities of Broadcom Corp. (Nasdaq:BRCM - news; ``Broadcom'' or the ``Company''), from July 31, 2000 through March 6, 2001, inclusive (the ``Class Period''), and who were damaged thereby.
The complaint charges Broadcom and certain of its officers and directors with violations of the Securities Exchange Act of 1934. This action involves defendants' dissemination of materially false and misleading statements concerning, among other things, the Company's financial condition. 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 concerning agreements with certain companies it acquired, which essentially resulted in Broadcom buying its own revenues. As a result, Broadcom stock traded at artificially inflated prices, permitting the three individual defendants to sell $45.8 million worth of their Broadcom stock.