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johnsyn

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johnsyn

Re: None

Saturday, 02/25/2012 9:35:12 AM

Saturday, February 25, 2012 9:35:12 AM

Post# of 118
BRIEF-Broadcom says SEC probes accounting practices related to litigation reserves



Feb 24 (Reuters) - Broadcom Corp :

* U.S. SEC is conducting a formal investigation of the company's accounting

practices related to litigation reserves

* The SEC has requested documents and information for the time period

commencing June 1, 2010 to present

* Believes that the SEC's investigation was prompted by allegations of a former

employee in April 2011 - SEC filing

* Says company is cooperating with the SEC's investigation.

* The company is cooperating with the SEC's investigation.

* No adjustments to fiscal 2010 and March 31, 2011 consolidated financial

statements were necessary relating to review

* Allegations related to co's processes,decisions regarding litigation reserves

in Q1 2011 in connection with ip claims

((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))


Thomson Reuters

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