Broadcom Co-Founder Off Hook In Shareholder Suit

Law360, New York (February 10, 2009, 12:00 AM EST) -- Broadcom Corp. co-founder Henry T. Nicholas III has won a bid to dismiss claims brought against him in a shareholder class action that accuses the company and several officers and directors of engaging in a scheme to backdate stock options that led to a decline in the company’s stock price.

Judge Manuel L. Real of the U.S. District Court for the Central District of California let Nicholas off the hook last week after concluding that the New Mexico State Investment Council, the lead plaintiff in the...
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