Facing Takeover, Emulex Calls Broadcom Dishonest

Law360, New York (June 1, 2009, 12:00 AM EDT) -- Storage technology company Emulex Corp. has sued Broadcom Corp. in an effort to fend off a $764 million hostile takeover bid, claiming criminal fraud and drug trafficking charges against disgraced Broadcom co-founder Henry T. Nicholas III raise serious doubts about the chip maker's credibility.

In a 58-page complaint filed Friday in the California Superior Court of Orange County, Emulex said Irvine, Calif-based Broadcom – which announced its $9.25-a-share offer May 5 – was not an “honest enterprise” and could not be trusted to deal in good...
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