Tuesday, June 1, 2010
Feds Drop Appeal In Broadcom Stock Option Cases
The long running saga of illegal stock options backdating charges against Henry Samueli and Henry Nicholas, the co-founders of Broadcom, have come to a close. According to the U.S. Attorney's Office in Los Angeles late Friday evening, the office has dropped the cases, and is no longer looking to appeal the dismissal of charges against the two, who had been charged with backdating of stock options at Broadcom. Broadcom was one of the highest profile companies in a major stock options backdating investigation by the SEC kicked off in May of 2006 against dozens of firms.