Ex-Broadcom CFO Appeals $118M Backdating Deal

Law360, New York (January 11, 2010, 1:02 PM EST) -- Former Broadcom Corp. Chief Financial Officer William J. Ruehle has appealed a federal court's order approving a $118 million settlement in a derivative suit accusing company brass of knowingly orchestrating a $2.2 billion stock options backdating scheme.

Ruehle filed his notice of appeal to the U.S. Court of Appeals for the Ninth Circuit Friday in the U.S. District Court for the Central District of California, a few days after former Broadcom CEO Henry Nicholas filed his own notice appealing the settlement. An attorney for the plaintiffs...
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