Broadcom Exec Settles With SEC

Law360, New York (March 4, 2008, 12:00 AM EST) -- A former Broadcom Corp. executive who pled guilty to her role in an alleged options backdating scandal has formally settled the U.S. Securities and Exchange Commission's civil enforcement action, agreeing to pay over $1.4 million in disgorgement and penalties.

The SEC filed its complaint against Nancy M. Tullos, Broadcom's former human resources head, on Tuesday in the U.S. District Court for the Central District of California with the understanding that Tullos had agreed to settle.

Under the settlement, which still requires court approval, Tullos will pay...
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