Broadcom loses EU bid over legal documents
- Broadcom lost its request to suspend an EU demand for U.S. legal documents connected to a VMware antitrust investigation.
- Broadcom shares were down 0.21% at $388.47 during Monday trading.
- The ruling allows the European Commission to continue seeking documents it considers necessary for its investigation.
Broadcom (NASDAQ:AVGO) lost its court bid to suspend an EU antitrust request for U.S. legal documents related to VMware.
Broadcom challenged the demand in May, arguing that the requested communications were protected under U.S. attorney-client privilege rules.
The EU generally protects company communications with independent external lawyers, but not communications involving in-house legal counsel.
The General Court said allowing investigated companies to decide which documents are relevant would weaken the Commission’s investigative powers.
Following the announcement, Broadcom's share price was down 0.21% at $388.47.
The dispute relates to EU scrutiny of business practices following Broadcom’s $69 billion acquisition of VMware in November 2023.
European cloud groups have separately asked regulators to examine VMware licensing changes, while Broadcom has disputed their allegations.
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