Broadcom and backdating
"The additional noncash stock-based compensation expense will not affect the company's current cash position or financial condition or previously reported revenues and will be offset by corresponding increases in additional paid-in capital, thus leaving shareholders' equity unaffected," the company said.
In early trading, Broadcom fell 29 cents, or 1%, to .60.
Last month, the SEC filed a civil action against Samueli and three other current and former Broadcom executives, alleging that they schemed from 1998 to 2003 to secretly .
The backdating forced the company to eventually restate its financial results and report more than billion in extra compensation expenses, the SEC said.
In 2009, the Firm negotiated a 0.5 million settlement with Broadcom and the individual defendants, one of the largest up-front cash settlements ever recovered in such a case at the time of the settlement.
In fact, internal company e-mails showed Samueli helped choose a stock options grant date with Nancy Tullos, former vice president of human resources, the documents showed.Broadcom co-founder and former CEO Henry Nicholas and ex-Chief Financial Officer William Ruehle are free men after District Judge Cormac J.