E&Y Reaches $13M Accord In Broadcom Backdating Case

Law360, New York (September 28, 2012, 10:22 PM EDT) -- Plaintiffs in a class action accusing Ernst & Young LLP of covering up the $2.2 billion Broadcom Corp. stock backdating scandal on Friday settled the suit with the accounting firm for $13 million.

In a notice filed in the Central District of California, Broadcom investors asked the court to preliminarily approve the deal, which sets up a $13 million settlement fund for class members who bought Broadcom stock between Feb. 14, 2006, and May 25, 2006.

"E&Y denies that it is liable to the class and...
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