Securities and Exchange Commission v. Broadcom Corporation, No. 8:2008cv00430 - Document 6 (C.D. Cal. 2008)
Court Description: FINAL JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF AGAINST BROADCOM CORPORATION by Judge James V. Selna (ade)
Download PDF
<![CDATA[
Securities and Exchange Commission v. Broadcom Corporation Case 8:08-cv-00430-JVS-RNB 1 2 3 4 5 6 7 8 9 Doc. 6 Document 6 Filed 04/29/2008 MOLLY WHITE, Cal. Bar No. 171448 E-mail: whitem@sec.gov MARSHALL S. SPRUNG, Cal. Bar No. 188253 E-mail: sprungm@sec.gov JUNLING MA, Cal. Bar No. 213241 E-mail: maj@sec.gov Page 1 of 5 JS-6 Attorneys for Plaintiff Securities and Exchange Commission Rosalind R. Tyson, Acting Regional Director Michele Wein Layne, Associate Regional Director Andrew G. Petillon, Associate Regional Director 5670 Wilshire Boulevard, 11th Floor Los Angeles, California 90036-3648 Telephone: (323) 965-3998 Facsimile: (323) 965-3908 10 UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA 11 12 SOUTHERN DIVISION 13 14 SECURITIES AND EXCHANGE COMMISSION, 15 Plaintiff, 16 17 18 vs. Case No. SACV 08-0430 JVS(RNBx) FINAL JUDGMENT OF PERMANET INJUNCTION AND OTHER RELIEF AGAINST BROADCOM CORPORATION BROADCOM CORPORATION, Defendant. 19 20 The Securities and Exchange Commission (the “Commission”) having filed 21 a Complaint (“Complaint”) and Defendant Broadcom Corporation (“Broadcom”) 22 having entered a general appearance; consented to the Court’s jurisdiction over 23 Broadcom and the subject matter of this action; consented to entry of this Final 24 Judgment without admitting or denying the allegations of the Complaint (except 25 as to jurisdiction), in the Consent of Defendant Broadcom Corporation to Entry of 26 Final Judgment of Permanent Injunction and Other Relief Against Broadcom 27 Corporation (“Consent”); waived findings of fact and conclusions of law; and 28 waived any right to appeal from this Final Judgment: Dockets.Justia.com Case 8:08-cv-00430-JVS-RNB Filed 04/29/2008 Page 2 of 5 I. 1 2 Document 6 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Broadcom 3 and its agents, servants, employees, attorneys, and all persons in active concert or 4 participation with them who receive actual notice of this Final Judgment by 5 personal service or otherwise are permanently restrained and enjoined from 6 violating Section 17(a) of the Securities Act of 1933 (“Securities Act”), 15 U.S.C. 7 § 77q(a), by the use of any means or instruments of transportation or 8 communication in interstate commerce or by use of the mails, directly or 9 indirectly: 10 (a) to employ any device, scheme, or artifice to defraud; 11 (b) to obtain money or property by means of any untrue statement of a 12 material fact or any omission of a material fact necessary in order to 13 make the statements made, in light of the circumstances under which 14 they were made, not misleading; or 15 (c) operates or would operate as a fraud or deceit upon the purchaser. 16 II. 17 18 to engage in any transaction, practice, or course of business which IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 19 Broadcom and its agents, servants, employees, attorneys, and all persons in active 20 concert or participation with them who receive actual notice of this Final Judgment 21 by personal service or otherwise are permanently restrained and enjoined from 22 violating, directly or indirectly, Section 10(b) of the Securities Exchange Act of 23 1934 (the “Exchange Act”), 15 U.S.C. § 78j(b), and Rule 10b-5 promulgated 24 thereunder, 17 C.F.R. § 240.10b-5, by using any means or instrumentality of 25 interstate commerce, or of the mails, or of any facility of any national securities 26 exchange, in connection with the purchase or sale of any security: 27 (a) to employ any device, scheme, or artifice to defraud; 28 2 Case 8:08-cv-00430-JVS-RNB 1 (b) Document 6 Filed 04/29/2008 Page 3 of 5 to make any untrue statement of a material fact or to omit to state a 2 material fact necessary in order to make the statements made, in light 3 of the circumstances under which they were made, not misleading; or 4 5 6 7 (c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person. III. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 8 Broadcom and its agents, servants, employees, attorneys, and all persons in active 9 concert or participation with them who receive actual notice of this Final Judgment 10 by personal service or otherwise are permanently restrained and enjoined from, 11 directly or indirectly, filing, or causing to be filed annual reports with the 12 Commission on Forms 10-K, quarterly reports with the Commission on Forms 10- 13 Q, and reports of material events and press releases on Forms 8-K that fail to 14 contain material information necessary to make the required statements in the 15 Forms 10-K, 10-Q, or 8-K, in light of the circumstances under which they are 16 made, not misleading, in violation of Section 13(a) of the Exchange Act, 15 U.S.C. 17 § 78m(a), and Rules 12b-20, 13a-1, 13a-11 and 13a-13 thereunder, 17 C.F.R. 18 §§ 240.12b-20, 240.13a-1, 240.13a-11, and 240.13a-13. 19 20 IV. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 21 Broadcom and its agents, servants, employees, attorneys, and all persons in active 22 concert or participation with them who receive actual notice of this Final Judgment 23 by personal service or otherwise are permanently restrained and enjoined from 24 directly or indirectly failing to make and keep accurate books, records, and 25 accounts which, in reasonable detail, accurately and fairly reflect financial 26 transactions and disposition of assets in violation of Section 13(b)(2)(A) of the 27 Exchange Act, 15 U.S.C. § 78m(b)(2)(A). 28 3 Case 8:08-cv-00430-JVS-RNB Document 6 Filed 04/29/2008 Page 4 of 5 V. 1 2 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 3 Broadcom and its agents, servants, employees and attorneys, and all persons in 4 active concert or participation with them, who receive actual notice of this Final 5 Judgment by personal service or otherwise are permanently restrained and enjoined 6 from, directly or indirectly failing to devise and maintain a system of internal 7 accounting controls sufficient to provide reasonable assurances that financial 8 statements are prepared in conformity with Generally Accepted Accounting 9 Principles in violation of Section 13(b)(2)(B) of the Exchange Act, 15 U.S.C. 10 11 §78m(b)(2)(B). VI. 12 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 13 Broadcom and its agents, servants, employees and attorneys, and all persons in 14 active concert or participation with them, who receive actual notice of this Final 15 Judgment by personal service or otherwise are permanently restrained and enjoined 16 from, directly or indirectly soliciting, by the use of the mails or by any means or 17 instrumentality of interstate commerce or of any facility of a national securities 18 exchange or otherwise, and by means of a proxy statement, form of proxy, notice 19 of meeting or other communication, written or oral, containing statements which, 20 at the time and in light of the circumstances under which they were made, were 21 false and misleading with respect to material facts, or omitted to state material 22 facts necessary in order to make the statements therein not false or misleading or 23 necessary to correct statements in earlier communications with respect to the 24 solicitation of the proxy for the same meeting or subject matter which was false or 25 misleading, in violation of Section 14(a) of the Exchange Act, 15 U.S.C. § 78n(a), 26 and Rule 14a-9 thereunder, 17 C.F.R. § 240.14a-9. 27 28 4 Case 8:08-cv-00430-JVS-RNB 1 Document 6 Filed 04/29/2008 Page 5 of 5 VII. 2 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 3 defendant Broadcom shall pay a civil penalty in the amount of $12 million 4 pursuant to Section 20(d) of the Securities Act, 15 U.S.C. § 77t(d), and Section 5 21(d)(3) of the Exchange Act, 15 U.S.C. § 78u(d)(3). Broadcom shall make this 6 payment within ten (10) business days after entry of this Final Judgment by 7 certified check, bank cashier’s check, or United States postal money order payable 8 to the Securities and Exchange Commission. The payment shall be delivered or 9 mailed to the Office of Financial Management, Securities and Exchange 10 Commission, Operations Center, 6432 General Green Way, Mail Stop 0-3, 11 Alexandria, Virginia 22312, and shall be accompanied by a letter identifying 12 Broadcom as a defendant in this action; setting forth the title and civil action 13 number of this action and the name of this Court; and specifying that payment is 14 made pursuant to this Final Judgment. Defendant shall pay post-judgment interest 15 on any delinquent amounts pursuant to 28 U.S.C. § 1961. The Commission shall 16 remit the funds paid pursuant to this paragraph to the United States Treasury. 17 VIII. 18 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the 19 Consent is incorporated herein with the same force and effect as if fully set forth 20 herein, and that Broadcom shall comply with all of the agreements set forth 21 therein. 22 IX. 23 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this 24 Court shall retain jurisdiction of this matter for the purposes of enforcing the terms 25 of this Final Judgment. 26 Dated: April 29, 2008 27 28 ____________________________________ UNITED STATES DISTRICT JUDGE 5
]]>
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You
should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
