Broadcom backdating stock options bestworldwidedating com

If the stock rises later, the recipient can cash in the option to reap a profit.The SEC had accused the Irvine, Calif.-based company's executives of manipulating the company's options grants to make it appear that they were approved during low points in the chipmaker's stock.“The scope and magnitude of the fraud warrants the significant penalty imposed on the company.” The agency accused Broadcom of using the backdated options to recruit and retain the most highly qualified staff without paying them higher salaries. In a court hearing in January, federal prosecutors told a judge that Nicholas and Samueli were “unindicted potential co-conspirators” in the probe.Broadcom was scheduled to release its second quarter earnings later today.The manipulation itself isn't necessarily illegal, but securities laws require companies to properly disclose the practice in its accounting and settle any charges that may result.

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"The review process was extremely thorough, as we said it would be," Mc Gregor said.

The company also agreed to pay up to .5 million in the plaintiffs' legal fees and expenses. In April 2008, the Securities and Exchange Commission had also announced that Broadcom agreed to pay a million penalty in connection with options backdating charges.

Stock options give employees the right to buy shares in the future at the market price on the date a grant is approved.

The company first revealed last July that its audit committee discovered that some stock option grants awarded from 2000 to 2002 had been backdated, and that it expected to record an additional 0 million in stock-based compensation expenses.

In September, the company said it had found additional backdated stock options which would cause it to record expenses of at least

"The review process was extremely thorough, as we said it would be," Mc Gregor said.

The company also agreed to pay up to $11.5 million in the plaintiffs' legal fees and expenses. In April 2008, the Securities and Exchange Commission had also announced that Broadcom agreed to pay a $12 million penalty in connection with options backdating charges.

Stock options give employees the right to buy shares in the future at the market price on the date a grant is approved.

The company first revealed last July that its audit committee discovered that some stock option grants awarded from 2000 to 2002 had been backdated, and that it expected to record an additional $750 million in stock-based compensation expenses.

In September, the company said it had found additional backdated stock options which would cause it to record expenses of at least $1.5 billion.

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"The review process was extremely thorough, as we said it would be," Mc Gregor said.The company also agreed to pay up to $11.5 million in the plaintiffs' legal fees and expenses. In April 2008, the Securities and Exchange Commission had also announced that Broadcom agreed to pay a $12 million penalty in connection with options backdating charges.Stock options give employees the right to buy shares in the future at the market price on the date a grant is approved.The company first revealed last July that its audit committee discovered that some stock option grants awarded from 2000 to 2002 had been backdated, and that it expected to record an additional $750 million in stock-based compensation expenses.In September, the company said it had found additional backdated stock options which would cause it to record expenses of at least $1.5 billion.

.5 billion.

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