Broadcom Faults Ernst & Young Over Audits

Law360, New York (April 24, 2008, 12:00 AM EDT) -- Days after reaching a $12 million agreement with securities regulators to settle backdating charges, Broadcom Corp. revealed that it has filed an arbitration claim against accounting firm Ernst & Young LLP regarding its audit of financial statements.

Broadcom sent an arbitration notice to its former auditor and other related parties this month, the semiconductor company said in its quarterly report submitted to the U.S. Securities and Exchange Commission on Thursday.

The arbitration involved “issues” over Broadcom's financial statements from 1998 through March 31, 2006, according to...
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