OT but interesting read on a company that tried to pull the wool over investors' eyes.

Broadcom is a corporation that provides semiconductors for wired and wireless communications to and throughout the home, office and mobile environment. It is incorporated in CA and its principal place of business and chief executive office is in Irivine, CA.

The amended complaint alleges, among other things, that the Defendants violated Secion 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a)-(c) by engaging in fraudulent scheme to inflate Broadcom's stock price by backdating stock option grants and issuing allegedly false and misleading statements to investors during the Class period. The statements allegedly contained misrepresentations and omissions regarding the Company's stock option grants between certain dates. It further alleges that the Individual Defendants were "control persons" and were liable under Section 20(a) of the Exchange Act. The Amended Complaint futher alleges that Lead Plaintiff and other Class Members purchased Broadcom Class A common stock during the class period at artifically inflated prices and were allegedly damaged when the truth about Broadcom's stock option practices was disclosed and the stock price dropped. The Ligitation seeks money damages against the Settling Defendants for violations of these federal securities laws.