Broadcom, a leading maker of broadband wireline and wireless data networking chips, is the latest firm to be tangled up in a stock option back-dating scandal. The Securities and Exchange Commission charged two current and two former Broadcom executives with back-dating options and then covering up the practice between 1998 and 2003. The two current execs involved, chairman and CTO Henry Samueli and general counsel David Dull, are taking leaves of absence from Broadcom.
Broadcom first admitted in the summer of 2006 that it would need to re-state earnings for several years because of a series of suspect options transactions. The company later took a $2.2 billion charge against earnings.
For more:
- check out this coverage [1] at Light Reading
Related articles:
- Broadcom moves into enterprise WiFi market [2]
- Broadcom: 802.11n won't usurp 802.11g yet Report on 802.11n [3]
Links:
[1] http://www.lightreading.com/document.asp?doc_id=153944
[2] http://www.fiercebroadbandwireless.com/story/broadcom-moves-into-enterprise-wifi-market/2008-04-24?utm_medium=rss&utm_source=rss&cmp-id=OTC-RSS-FBW
[3] http://www.fiercebroadbandwireless.com/story/broadcom-802-11n-wont-usurp-802-11g-yet/2007-09-06