Broadcom backdating

Prosecutors had alleged that the Irvine company's leadership conspired to conceal millions in compensation by awarding stock options to employees.

Broadcom was ultimately forced to write down .2 billion in profit after the backdating was uncovered, and it paid million to settle a civil complaint without admitting wrongdoing.

Nicholas III, were called “unindicted potential co-conspirators” in a federal court case Thursday in which a former Broadcom vice president pleaded guilty to obstruction of justice.

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It is legal when properly accounted for, but if not disclosed it can allow companies to overstate profit and underpay taxes while diminishing shareholder value.

Broadcom’s investigation held Tullos, Nicholas and former Chief Financial Officer William Ruehle responsible for improperly awarding the options, but exonerated Samueli.

Also Thursday, Broadcom reported net income of .3 million on revenue of

It is legal when properly accounted for, but if not disclosed it can allow companies to overstate profit and underpay taxes while diminishing shareholder value.

Broadcom’s investigation held Tullos, Nicholas and former Chief Financial Officer William Ruehle responsible for improperly awarding the options, but exonerated Samueli.

Also Thursday, Broadcom reported net income of $90.3 million on revenue of $1.03 billion for the fourth-quarter of 2007.

"After all this time of being a defendant and being accused wrongly, it hasn't sunk in yet," he said.

"Obviously it's a wonderful feeling." Prosecutors left court without talking to reporters, but acting U. Attorney George Cardona told the judge he did not agree with the ruling.

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It is legal when properly accounted for, but if not disclosed it can allow companies to overstate profit and underpay taxes while diminishing shareholder value.Broadcom’s investigation held Tullos, Nicholas and former Chief Financial Officer William Ruehle responsible for improperly awarding the options, but exonerated Samueli.Also Thursday, Broadcom reported net income of $90.3 million on revenue of $1.03 billion for the fourth-quarter of 2007."After all this time of being a defendant and being accused wrongly, it hasn't sunk in yet," he said."Obviously it's a wonderful feeling." Prosecutors left court without talking to reporters, but acting U. Attorney George Cardona told the judge he did not agree with the ruling.

.03 billion for the fourth-quarter of 2007.

"After all this time of being a defendant and being accused wrongly, it hasn't sunk in yet," he said.

"Obviously it's a wonderful feeling." Prosecutors left court without talking to reporters, but acting U. Attorney George Cardona told the judge he did not agree with the ruling.

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