The Wall Street journal has suggested a 5 year probation and 12 million fine might be part of the deal Broadcom co-founder, Henry Samueli has struck with prosecutors. Federal cases are still pending against three other execs from the company in relation to stock option backdating irregularities.

-- MDT

Labels: backdating, Broadcom, Henry Samueli, stock options

Labels: backdating, Broadcom, class action, Henry Nicholas, SEC

Federal prosecutors have moved a step closer to Broadcom co-founder, Henry T. Nicholas III, filing criminal charges against California attorney Craig Steven Gunther, who spent several years managing Nicholas's personal finances.

The Gunther indictment doesn't specifically mention stock option backdating. Early in the year the company made a massive $2.5 billion restatement resulting from backdating irregularities (the original estimate was more like $704 million) and saw its CFO resign as a result of the issues.

More on the Gunther indictment via Reuters.

-- MDT

Labels: backdating, Broadcom, Craig Steven Gunther, Gregory Reyes, Henry Nicholas, stock options

Broadcom announced over the summer that it would be filing restatements covering the ears 2000 to 2005, as well as the first quarter of '06 - all in relation to the granting stock options to executives. The company's own internal review of its options granting process has been completed and the revamped financials are expected sooner rather than later, but in less that good news the SEC has announced that they'll be stepping up their own inquiry into Broadcom's practices into a formal investigation.

-- MDT

Labels: Broadcom, SEC, stock options