Broadcom backdating stock options

agreed to settle the case without admitting wrongdoing, according to a Friday filing with the Securities and Exchange Commission.The amount will be paid by Broadcom directors and officers' liability insurance.They do affect earnings per share reported for those periods, the company said.Analysts Not Worried Despite the huge recognition of expenses, analysts did not seem overly worried about the effect of the charges.Broadcom, a supplier of semiconductor chips used in communication devices, said Tuesday it would record .22 billion in non-cash expenses for the years 1998 through 2005 for stock option accounting flaws--nearly triple what it originally estimated last July.The company said the charges complete its investigation into option grant irregularities.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.

It involves pegging stock options to favorable grant dates in the past to boost the recipients' award.SANTA ANA – Federal officials charged semiconductor-maker Broadcom today with falsifying its reported income by illegally backdating stock options for five years.The Irvine-based company agreed to pay million to settle the charges without admitting or denying the allegations, the U. Securities and Exchange Commission said in a statement. Nicholas III and Henry Samueli did not immediately return calls.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

It involves pegging stock options to favorable grant dates in the past to boost the recipients' award.

SANTA ANA – Federal officials charged semiconductor-maker Broadcom today with falsifying its reported income by illegally backdating stock options for five years.

The Irvine-based company agreed to pay $12 million to settle the charges without admitting or denying the allegations, the U. Securities and Exchange Commission said in a statement. Nicholas III and Henry Samueli did not immediately return calls.

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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It involves pegging stock options to favorable grant dates in the past to boost the recipients' award.SANTA ANA – Federal officials charged semiconductor-maker Broadcom today with falsifying its reported income by illegally backdating stock options for five years.The Irvine-based company agreed to pay $12 million to settle the charges without admitting or denying the allegations, the U. Securities and Exchange Commission said in a statement. Nicholas III and Henry Samueli did not immediately return calls.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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