Cohen, Milstein, Hausfeld & Toll, P.L.L.C. Files Class Action Suit Against Broadcom Corp

Business Wire, March 28, 2001

Business/Legal Editors

SEATTLE--(BUSINESS WIRE)--March 28, 2001

The following notice is issued by the law firm of Cohen, Milstein, Hausfeld & Toll, P.L.L.C. who filed a lawsuit in the United States District Court for the Central District of California on behalf of persons who purchased Broadcom Corp. (Nasdaq:BRCM) common stock during the period between July 30, 2000 and February 27, 2001 (the "Class Period").

The complaint charges Broadcom and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Broadcom is a provider of highly integrated silicon solutions that enable broadband digital transmission of voice, video and data to and throughout the home and within the business enterprise. The complaint alleges that during the Class Period, defendants made positive but false statements about Broadcom's results and business, while concealing material adverse information about agreements with certain companies it acquired, which essentially resulted in Broadcom buying its own revenues. As a result, Broadcom's stock traded at artificially inflated levels, permitting the three individual defendants to sell $45.8 million worth of their Broadcom stock.

Then, on 2/27/01, The Wall Street Journal published an article on Broadcom entitled "Warrant Deals Raise Concerns on Broadcom," in which analysts and accounting experts questioned the "legitimacy" of the transactions and termed the agreements "troubling." Broadcom's stock immediately dropped, falling 16% to $53, before closing at $53.625 on 2/27/01, and falling to $49.25 on 2/28/01.

Cohen Milstein's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total hundreds of millions of dollars or more.

If you purchased Broadcom Corp. common stock during the period between July 30, 2000 and February 27, 2001 inclusive, you may move the Court no later than 60 days from March 5, 2001, to serve as lead plaintiff for the Class. In order to serve as lead plaintiff, you must meet certain legal standards.

If you have any questions about this notice or the action, or with regard to your rights, please contact:

Steven J. Toll or Robert Smits Cohen Milstein Hausfeld & Toll, P.L.L.C. 888/240-0775 stoll@cmht.com rsmits@cmht.com