Broadcom backdating scandal

and dozens of lesser-known technology firms were implicated in the scandal. .) Read on to find out how the scandal emerged, what brought it to and end and what you can learn from it now.Options Backdating The essence of the options backdating scandal can be summarized simply as executives falsifying documents in order to earn more money by deceiving regulators, shareholders and the Internal Revenue Service (IRS).But how does that relate to hiring prostitutes and drugging customers without their knowledge?Said another way, do the feds really need to dig that deep to find enough rope to hang executives with?But even though many of press accounts have reproduced some of Judge Carney’s harshest words – particularly his statement that the government’s treatment of a third defendant, Henry Sameuli, was "shameful and contrary to American values of decency" – the excerpts do not come close to capturing the depth and breadth of the Judge’s condemnation of the prosecutor’s conduct.The transcript of the December 15 hearing at which Judge Carney delivered his ruling can be found here.Integrated Circuits Cable Converter Boxes Gigabit Ethernet Wireless networks Cable modems Mobile communications Network Switches Digital Subscriber Line Server farms Processors Bluetooth Vo IP Near Field Communication GPS Metropolitan Area Network Broadcom Corporation was an American fabless semiconductor company that made products for the wireless and broadband communication industry.

Broadcom Corporation was founded by professor-student pair Henry Samueli and Henry Nicholas from UCLA in 1991.In researching this post, I came across a number of recent reports on Henry Nicholas III, the once high-flying CEO and cofounder of Broadcom. While the story was enthralling, I didn't understand what any of it had to do with a federal investigation into stock option backdating.The allegations of illicit sex, drugs, and rock and roll reminded me of the 60s ... Sure, Broadcom had to take a .2 billion charge to fix the accounting mess left by the company's former executives.Broadcom is among Gartner's Top 10 Semiconductor Vendors by revenue. In 2012, Broadcom's total revenue was .01 billion. 327 on the Fortune 500, having climbed 17 places from its 2012 ranking of No. Broadcom shareholders will hold 32% of the new Singapore-based company to be called Broadcom Limited.

Hock Tan, Avago President and CEO, will be the new CEO of the new combined company. Samueli will be Chief Technology Officer and member of the combined company's board. Nicholas will serve in a strategic advisory role within the new company.You see, if you backdate stock options to a date when the price of the stock was lower, then the options are "in-the-money" when granted.


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