January 4, 2019 / 8:12 PM / 3 months ago

U.S. Supreme Court to weigh Broadcom bid to end shareholder suit

WASHINGTON, Jan 4 (Reuters) - The U.S. Supreme Court on Friday agreed to hear an appeal filed by a subsidiary of Broadcom Inc seeking to put an end to a shareholder lawsuit concerning its 2015 acquisition of Emulex Corp.

The legal question, which could affect other cases, is whether under the Securities and Exchange Act shareholders need to show intent to defraud when suing a company over statements made during the merger and acquisition process.

Reporting by Lawrence Hurley; Editing by Will Dunham

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