Broadcom, Chairman Face Backdating Probe

Law360, New York (July 23, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has told computer chip maker Broadcom that the company and its chairman of the board may face charges in connection with an alleged scheme to backdate stock options at the company.

The company on Friday revealed that it and board chairman Dr. Henry Samueli received Wells Notices on July 19, signaling that the SEC is considering civil enforcement action. Dr. Samueli is also Broadcom's chief technical officer.

“The SEC continues to depose present and former company employees, officers and directors...
To view the full article, register now.