Broadcom gets wake up call from SEC - Civil charge over share backpedalling

By Examiner Staff @ Thursday, May 15, 2008 6:03 AM

Section - Business/Legal

The Securities and Exchange Commission (SEC) has filed a civil suit against Henry Nicholas III, Broadcom's former charismatic CEO, and its current chief tech office and chairman Henry Samueli.

The allegation centres around back dating share options between 1998 and 2003, which resulted in the two men gaining financially.

The Wall Street Journal thinks that the SEC is also investigating the pair with possible criminal prosecutions in the future. X