Lieff Cabraser serves as court-appointed
Lead Counsel in a stockholders' derivative action against
the board of directors of Broadcom Corporation. The
suit alleges defendants intentionally manipulated their
stock option grant dates between 1997 and at least
the end of 2002 in order to enrich themselves at the
expense of Broadcom and Broadcom shareholders.
Defendants made it appear as if stock options were
granted earlier than they actually were in order
to maximize the value of the grant. By making it
seem as if stock option grants occurred on dates
when Broadcom stock was trading at a comparatively
low per share price, Broadcom executives were able
to exercise their stock option grants at exercise
prices that were lower than the fair market value
of Broadcom stock on the day the options were actually
granted. |
