5G Technology World

  • 5G Technology and Engineering
  • FAQs
  • Apps
  • Devices
  • IoT
  • RF
  • Radar
  • Wireless Design
  • Learn
    • 5G Videos
    • Ebooks
    • EE Training Days
    • FAQs
    • Learning Center
    • Tech Toolboxes
    • Webinars/Digital Events
  • Handbooks
    • 2024
    • 2023
    • 2022
    • 2021
  • Resources
    • Design Guide Library
    • EE World Digital Issues
    • Engineering Diversity & Inclusion
    • Engineering Training Days
    • LEAP Awards
  • Advertise
  • Subscribe

SEC Charges Broadcom Execs with Option Backdating

By Staff Author | May 16, 2008

Earlier this week, the U.S Securities and Exchange Commission (SEC) charged Broadcom co-founders Henry Nicholas III and Henry Samueli with falsifying the company’s reported income. The SEC also filed a civil complaint against former CFO William Ruehle and General Counsel David Dull.

The four men are accused of misrepresenting the dates on which stock options were granted, a practice called backdating. In its suits, the SEC is seeking injunctions, monetary penalties and that Samueli and Dull be removed from their positions.

The SEC claims that as a result of the backdating, Broadcom restated its financial results in January 2007, reporting more than $2 billion in additional compensation expenses.

Following the accusations, Samueli and Dull have taken leaves of absences from the company, but will continue to serve as non-officer employees during their leaves, Broadcom said in a statement. The company also said that Samueli has resigned as chairman of the board of directors. The board has appointed John Major, an independent director, as non-executive chairman of the board.

Broadcom said it would not comment on the SEC’s accusations, but that “it is important to note that the government’s charges pertain to events that occurred half a decade to nearly a decade ago.”

The company also said that Broadcom settled a suit last month with the SEC related to the company’s stock option granting practices.


Filed Under: Carriers

 

Next Article

← Previous Article
Next Article →

Related Articles Read More >

eSIM
eSIM eases changing carriers for phones and IoT
QoE and QoS comparison
Benchmarking in 5G: More important than ever
iPhone 12
I bought a 5G phone, now what?
6G
Key takeaways from 6G Symposium

Featured Contributions

  • Overcome Open RAN test and certification challenges
  • Wireless engineers need AI to build networks
  • Why AI chips need PCIe 7.0 IP interconnects
  • circuit board timing How timing and synchronization improve 5G spectrum efficiency
  • Wi-Fi 7 and 5G for FWA need testing
More Featured Contributions

EE TECH TOOLBOX

“ee
Tech Toolbox: 5G Technology
This Tech Toolbox covers the basics of 5G technology plus a story about how engineers designed and built a prototype DSL router mostly from old cellphone parts. Download this first 5G/wired/wireless communications Tech Toolbox to learn more!

EE LEARNING CENTER

EE Learning Center
“5g
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest info on technologies, tools and strategies for EE professionals.

Engineering Training Days

engineering
“bills
5G Technology World
  • Enews Signup
  • EE World Online
  • DesignFast
  • EDABoard Forums
  • Electro-Tech-Online Forums
  • Microcontroller Tips
  • Analogic Tips
  • Connector Tips
  • Engineer’s Garage
  • EV Engineering
  • Power Electronic Tips
  • Sensor Tips
  • Test and Measurement Tips
  • About Us
  • Contact Us
  • Advertise

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy

Search 5G Technology World