Broadcom backdating

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(AP Photo/The Orange County Register, Mindy Schauer) ** NO SALES, MAGS OUT, LA TIMES OUT ** less FILE - In this June 5, 2008 file photo, Broadcom's former chief financial officer, William J.

Ruehle, left, and his attorney Richard Marmaro leave the Ronald Reagan Federal Courthouse in Santa Ana, Calif. more A federal judge has dismissed fraud and conspiracy charges in the stock-option backdating case against Broadcom Corp. District Judge Cormac Carney also asked prosecutors to explain why a separate drug indictment against Nicholas should not also be thrown out, and he dismissed a civil case the Securities and Exchange Commission filed against four Broadcom executives.

Nicholas III, were called “unindicted potential co-conspirators” in a federal court case Thursday in which a former Broadcom vice president pleaded guilty to obstruction of justice.

Tullos pleaded guilty to one count of obstruction of justice for asking an employee to delete an e-mail message that showed a new employee had been hired after the date at which his options were offered. Until Thursday, Tullos’ guilty plea referred to Nicholas as “Executive A” and Samueli as “Executive B.” Prosecutor Andrew Stolper said he had not named the executives because they were “unindicted potential co-conspirators.” He declined to elaborate after the hearing. An unindicted co-conspirator is someone who may be a witness or may be prosecuted later, or officials may lack the evidence required to prosecute the person, said Jack Earley, a criminal defense lawyer not involved in the case.

Brad Brian, Nicholas’ attorney, said in a statement that his client did not benefit or do anything illegal and the plea agreement of Nancy Tullos did not change that. The billionaires’ names came out during a plea hearing for Tullos, Broadcom’s former vice president for human resources. “I’ll concede arguably it might be embarrassing,” Carney said.

It was the first time Nicholas, who resigned as Broadcom’s chief executive officer in 2003, or Samueli, Broadcom’s chairman and chief technical officer, were named in the federal criminal probe into the company’s alleged backdating of employee stock options. Carney said he wanted the names of the executives disclosed to ensure the plea agreement met standards of justice.

Prosecutors had alleged that the Irvine company's leadership conspired to conceal millions in compensation by awarding stock options to employees.

Broadcom was ultimately forced to write down .2 billion in profit after the backdating was uncovered, and it paid million to settle a civil complaint without admitting wrongdoing.

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"Obviously it's a wonderful feeling." Prosecutors left court without talking to reporters, but acting U. Attorney George Cardona told the judge he did not agree with the ruling.The Irvine semiconductor company’s profits were double the same quarter in 2006. For all 2007, Broadcom reported income of 3.3 million on revenue of .67 billion.Broadcom Chief Executive Officer Scott Mc Gregor forecast revenue for the first quarter of 2008 at 5 million to

"Obviously it's a wonderful feeling." Prosecutors left court without talking to reporters, but acting U. Attorney George Cardona told the judge he did not agree with the ruling.

The Irvine semiconductor company’s profits were double the same quarter in 2006. For all 2007, Broadcom reported income of $213.3 million on revenue of $3.67 billion.

Broadcom Chief Executive Officer Scott Mc Gregor forecast revenue for the first quarter of 2008 at $975 million to $1 billion, powered by growing sales of Bluetooth, wireless networking and digital TV set top products.

co-founder Henry Nicholas III and former Chief Financial Officer William Ruehle because of prosecutorial misconduct. The stunning move came after Carney vacated a guilty plea by Broadcom co-founder Henry Samueli in the same case after hearing him testify for two days last week as a defense witness for Ruehle under a grant of immunity.

Carney found that prosecutors tried to prevent three key defense witnesses from testifying, improperly contacted attorneys for defense witnesses and leaked information about grand jury proceedings to the media.

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"Obviously it's a wonderful feeling." Prosecutors left court without talking to reporters, but acting U. Attorney George Cardona told the judge he did not agree with the ruling.The Irvine semiconductor company’s profits were double the same quarter in 2006. For all 2007, Broadcom reported income of $213.3 million on revenue of $3.67 billion.Broadcom Chief Executive Officer Scott Mc Gregor forecast revenue for the first quarter of 2008 at $975 million to $1 billion, powered by growing sales of Bluetooth, wireless networking and digital TV set top products.co-founder Henry Nicholas III and former Chief Financial Officer William Ruehle because of prosecutorial misconduct. The stunning move came after Carney vacated a guilty plea by Broadcom co-founder Henry Samueli in the same case after hearing him testify for two days last week as a defense witness for Ruehle under a grant of immunity.Carney found that prosecutors tried to prevent three key defense witnesses from testifying, improperly contacted attorneys for defense witnesses and leaked information about grand jury proceedings to the media.

billion, powered by growing sales of Bluetooth, wireless networking and digital TV set top products.co-founder Henry Nicholas III and former Chief Financial Officer William Ruehle because of prosecutorial misconduct. The stunning move came after Carney vacated a guilty plea by Broadcom co-founder Henry Samueli in the same case after hearing him testify for two days last week as a defense witness for Ruehle under a grant of immunity.Carney found that prosecutors tried to prevent three key defense witnesses from testifying, improperly contacted attorneys for defense witnesses and leaked information about grand jury proceedings to the media.

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