LOS ANGELES — Broadcom Corp. has agreed to pay $118 million to settle allegations of stock option backdating in one of the largest such deals in a derivative action to date.
The proposed settlement, subject to approval by U.S. District Judge Manuel Real of the Central District of California, would be the second-largest in a derivative action involving stock option backdating, according to lead plaintiffs’ counsel Richard Heimann, name partner at San Francisco’s Lieff Cabraser Heimann & Bernstein.
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