Broadcom, Agere Settle Suit
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Irvine-based Broadcom (www.broadcom.com) said yesterday that it has settled all of the company&#39;s outstanding litigation with Agere Systems.
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By Bloomberg News. The AT&amp;T Corporation, the nation&#39;s biggest long-distance telephone company, said yesterday that it had agreed to pay $100 million to settle a lawsuit by shareholders who claimed the carrier had lied about its finances.
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MAJOR CHIP maker Broadcom (tick: BRCM) said that it has revised its figures for revenues in its third quarter. It said revenues are now expected to be flat or &quot;up slightly&quot; compared to its second quarter revenues.
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(InfoWorld) - Broadcom's accounting woes have deepened as the networking chip company examined more stock-option grants that apparently were backdated. In July, Broadcom said it found irregular stock-option grants made from 2000 to 2002Â and expected to take more than $750 million in additional compensation expensesÂ because of those grants. On Friday, the company said it found other questionable stock-option grants awarded between June 1998 and May 2003. Now Broadcom expects those additional compensation expenses to be at least twice as big. The company also expanded its restatement of past financial results. It had previously expected to restate results for 2000 through the first quarter of 2006, and now it also believes its results for 1998 and 1999 will need to be restated. Broadcom is one of many high-tech companies to be hit with problems related to backdating of stock options during the heyday of the high-tech economy. In backdating, companies move the date of a stock-option grant to a time when the company's stock was worth less, in order to give the employees a greater gain when they cash in. Apple Computer Inc., Rambus Inc., McAfee Inc. and other companies are embroiled in controversy over apparent backdating. The audit committee of Broadcom's board of directors is continuing a voluntary review of the Irvine, California, company's compensation practices with the help of outside counsel, and it hasn't reached any conclusions, Broadcom said in a press release on Friday. Broadcom said it made the grants during a time when it was hard to attract the best high-tech talent and that about 95 percent of the grants went to employees other than executive officers.
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The U.S. International Trade Commission said that QualcommÂ is infringing on one of Broadcom's patents, dealing a blow to Qualcomm in anÂ ongoing patent battleÂ between the companies.
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AT&amp;T, the largest US long-distance telephone company, agreed Tuesday to pay $100 million to settle a lawsuit by shareholders who said the company lied about its financial health.
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Companies say they have "resolved" dispute over three voice over Internet protocol patents. Precise amount of settlement depends on whether appeals court agrees to review case.
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MILPITAS, Calif. -- LSI Logic Corp. said Monday it will purchase rival chip and storage systems maker Agere Systems Inc. for $4 billion in stock.
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A U.S. district court has dismissed an antitrust suit brought by microchip maker Broadcom Corp. against Qualcomm Inc., although Broadcom said it would continue to pursue the case.
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Income and revenue down, something about an ex-CEO and whores... Broadcom announced their Q2 profit took a 68 per cent plunge today, but scored a victory in a long-in-the-tooth patent dispute with Qualcomm.â¦
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Semiconductor manufacturer LSI Logic said Monday it would acquire Agere Systems, creating a combined chip-making company with enough scale to compete for greater market share in segments including hard disks and digital media players.ADVERTISEMENTNEW IT SERVICES FROM IBM: EASIER TO BUY AND IMPLEMENTDiscover a simpler, more cost-effective way to get the solutions your company needs to grow more flexible and efficient.
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(InfoWorld) - A U.S. federal court jury has found Qualcomm infringed three Broadcom patents and awarded Broadcom $19.6 million in damages. The jury in U.S. District Court in Santa Ana, California, found Qualcomm infringed the patents wilfully, and a judge could increase the award as much as three times for this, according to a Qualcomm statement. At a hearing on June 18, the judge in the case is scheduled to set dates for post-trial motions. Qualcomm, a cellular pioneer and a wireless intellectual-property powerhouse, said it would challenge the findings in post-trial motions and, if necessary, file an appeal. Broadcom plans to ask for a permanent injunction to stop Qualcomm from using the technologies.. The case,Â filed in May 2005, involves five Broadcom patents. Broadcom dismissed its claims on one patent, and the court stayed the case with regard to another, according to Qualcomm. On Tuesday, the jury cleared Qualcomm on one claim regarding one of the patents. The patent claims affect key Qualcomm products: its EV-DO (Evolution-Data Optimized) high-speed mobile data chips, its QChat push-to-talk software, and chip platforms for mobile multimedia, according to a Broadcom statement.
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The California State Teachers' Retirement  System today announced a $105 million settlement in a securities fraud  case against AOL Time Warner, its accountants, banks and several former  executives.
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A U.S. district court has dismissed an   antitrust suit filed by microchip maker Broadcom Corp. BRCM.O   against Qualcomm Inc. QCOM.O, but Broadcom said it would   continue to pursue the case.
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Chip designer Broadcom  said  on Friday that rival Qualcomm Inc.  rejected its offer  to settle a patent dispute over wireless chip technology with a  $6 royalty fee for each mobile phone affected.
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Company says Arbinet will settle in copyright infringement dispute.
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The Financial Times reported yesterday that Microsoft paid the Computer and Communications Industry Association $19.75 million earlier this month to settle an antitrust suit, and that the association&#39;s top official received $9.75 million of that amount.