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Labaton Sucharow LLP Announces Summary Notice of Pendency of Class Action and Proposed Settlement With Ernst & Young LLP and Motion for Attorneys' Fees and Expenses

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NEW YORK--(BUSINESS WIRE)--

The following statement is being issued by Labaton Sucharow LLP regarding the Broadcom Corporation Class Action Litigation.

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION

In re BROADCOM CORPORATION CLASS ACTION LITIGATION
Lead Case No.: CV-06-5036 (CWx)

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT WITH ERNST & YOUNG LLP AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

TO:

 

ALL PERSONS AND ENTITIES THAT PURCHASED OR OTHERWISE ACQUIRED THE CLASS A COMMON STOCK OF BROADCOM CORPORATION DURING THE PERIOD FROM FEBRUARY 14, 2006 THROUGH MAY 25, 2006, INCLUSIVE, (THE “CLASS PERIOD”) AND WERE ALLEGEDLY DAMAGED THEREBY (THE “CLASS”).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the above-captioned action has been certified as a class action and that a settlement of the action for $13,000,000 has been proposed by the Parties (the “EY Settlement”). A hearing will be held before the Honorable Manuel L. Real of the United States District Court for the Central District of California in the Spring Street Courthouse, Room 8, 312 N. Spring Street, Los Angeles, CA 90012, at 10:00 a.m., on December 3, 2012 to determine: whether the proposed EY Settlement should be approved by the Court as fair, reasonable, and adequate; whether the proposed plan of allocation for distribution of the settlement proceeds should be approved; to consider the request of Class Counsel for attorneys' fees and reimbursement of litigation expenses; and to consider the request of Class Representative, if any, for reimbursement of its reasonable costs and expenses relating to its representation of the Class. The Court may change the date of the hearing without providing another notice.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement With Ernst & Young LLP and Motion for Attorneys' Fees and Expenses (“Notice”) or a Proof of Claim and Release form (“Proof of Claim”) (if you did not already submit one in connection with the previously approved settlement with Broadcom Corporation (“Broadcom Settlement”)) you may obtain copies of these documents by contacting the Claims Administrator:

Broadcom Corp. Class Action Litigation, EY Settlement
Claims Administrator
c/o GCG
P.O. Box 9945
Dublin, OH 43017-5945
1 (866) 220-2893
www.broadcomclassactionsettlement.com/EY

Inquiries, other than requests for information about the status of a claim, may also be made to Class Counsel:

Labaton Sucharow LLP
Thomas A. Dubbs
140 Broadway
New York, New York 10005
(888) 212-5685
www.labaton.com

To participate in the proposed EY Settlement and be eligible to receive a recovery, you must either (1) have already submitted a claim in connection with the Broadcom Settlement; or (2) if you did not previously submit a claim, submit a Proof of Claim in the EY Settlement postmarked no later than December 26, 2012. To exclude yourself from the Class, even if you previously excluded yourself from the Broadcom Settlement, you must submit a request for exclusion so that it is received no later than November 19, 2012. If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Final Order and Judgment as to Ernst & Young LLP and all future Orders in the action. Any objection to the EY Settlement must be filed with the Court and served on counsel for the parties so that it is received no later than November 19, 2012. If you are a Class Member and do not timely submit a valid claim, you will not share in the EY Settlement, but you nevertheless will be bound by the Final Order and Judgment, and all future Orders, of the Court.

DATED: October 29, 2012                    

BY ORDER OF THE COURT UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA

Labaton Sucharow LLP
Media Contact:
Jennifer S. Bankston, 212-907-0700

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