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Broadcom backdating options plea

As part of the gift, the existing Susan Samueli Center for Integrative Medicine was elevated to become the Susan Samueli Integrative Health Institute.Some of the other major naming gifts of the Samueli Foundation include the Samueli Theater at the Orange County Performing Arts Center in 2000, the Samueli Jewish Campus in Irvine, CA in 2001, the Sala and Aron Samueli Holocaust Memorial Library at Chapman University in 2003, the Samueli Academy, a public Charter High School in Santa Ana, CA for community, underserved and foster teens in 2013. co-founder Henry Samueli leaves after a hearing at the U. Nearly two years later, the government's case could be falling apart. Ruehle after allegations of prosecutorial misconduct. Backdating involves retroactively setting a stock option's exercise price to a low point in the stock's value, boosting profits when the shares are sold.

Prosecutors focused on the fact that Samueli denied under oath any role in making options grants to high-ranking executives.

As part of his plea agreement, Samueli admitted the statement was false, and admitting to being part of the options-granting process. District Court Judge Cormac Carney rejected the plea deal that called for Samueli to receive probation, writing: "The court cannot accept a plea agreement that gives the impression that justice is for sale".

8, 2009 took the witness stand in the fraud trial of the company's former chief financial officer.

In a move that stunned legal experts, a judge Wednesday dismissed an earlier guilty plea from Broadcom's co-founder, Henry Samueli, after finding he did not lie to Securities and Exchange Commission investigators probing the alleged backdating scheme at the chip-maker. It is legal when properly accounted for, but if not properly disclosed it can allow companies to overstate profits and underpay taxes, while diminishing shareholder value.

In 2015, Samueli received a prize from the Israeli government for his global contribution to innovation and his contribution to innovation in Israel, at the "Innovex" conference for innovation in technology.

During the technology boom in the 2000s, Samueli and Broadcom co-founder Henry T.

The foundation focuses its giving in the areas of education, health, youth services, and Jewish culture and values.

In 2012 the Samueli's joined the Giving Pledge, initiated by Warren Buffett and Bill and Melinda Gates, whose members pledge the majority of their wealth to philanthropy.

Henry Samueli (born September 20, 1954) is an American businessman, engineer, and philanthropist.

He is the co-founder of Broadcom, owner of the Anaheim Ducks, and a prominent philanthropist in the Orange County, California community. dissertation is entitled "Nonperiodic forced overflow oscillations in digital filters". Each invested ,000 and initially worked out of Nicholas' Redondo Beach home.

Comments Broadcom backdating options plea

  • Gov't misconduct may unravel
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    AP -- When the federal government revealed it had launched a massive investigation of some of Broadcom Corp.'s top executives for backdating stock.…