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Securities

Feb. 28, 2012

Broadcom discloses SEC investigation

Broadcom Corp. announced Friday in a filing to shareholders that the Securities and Exchange Commission is investigating how it accounted for litigation reserves.

By Gabe Friedman
Daily Journal Staff Writer

LOS ANGELES - Broadcom Corp. announced Friday in a filing to shareholders that the Securities and Exchange Commission is investigating how it accounted for litigation reserves going back to 2010.

The investigation may have been in progress since April 2011, according to the filing, when a former employee raised questions about the company's accounting for litigation reserves in connection with "asserted and unasserted" int...

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