An investigation for shareholders of Broadcom Corporation (NASDAQ:BRCM) over possible securities laws violations was announced and NASDAQ:BRCM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/20/2012 -- An investigation for current investors in shares of Broadcom Corporation (NASDAQ:BRCM) was announced over potential securities laws violations by certain officers and directors at Broadcom Corporation (NASDAQ:BRCM) in connection with certain statements.
Investors who are current long term stockholders of Broadcom Corporation (NASDAQ:BRCM), shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Broadcom Corporation (NASDAQ:BRCM) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements concerning Broadcom’s business, its prospects and its operations were potentially materially false and misleading at the time they were made and whether certain officers and directors breached their fiduciary duties to Broadcom Corporation (NASDAQ:BRCM) stockholders.
Broadcom reported that is annual Revenue rose from $4.65billion in 2008 to $7.38billion in 2011 and that its Net Income increased from $214.79million for 2008 to $927million in 2011. However Broadcom’s Net income fell from $1.08billion in 2010 to $927 in 2011. Additionally, despite that NASD:BRCM shares rose from as low as $14.09 in November 2008 to as high as $47.34 per share in January 2011, Broadcom shares since then fell to under $30 towards the end of 2011 and traded recently at slight above $36 per share.
Those who purchased shares Broadcom Corporation (NASDAQ:BRCM), you have certain options and you should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego