Broadcom backdating scandal
In 1995 the company moved from its Westwood, Los Angeles office to Irvine, California.
In 1998, Broadcom became a public company on the NASDAQ exchange (ticker symbol: BRCM) and now employs approximately 11,750 people worldwide in more than 15 countries.
and dozens of lesser-known technology firms were implicated in the scandal. .) Read on to find out how the scandal emerged, what brought it to and end and what you can learn from it now.
Options Backdating The essence of the options backdating scandal can be summarized simply as executives falsifying documents in order to earn more money by deceiving regulators, shareholders and the Internal Revenue Service (IRS).
The division is headquartered in Irvine, California.
Broadcom Corporation was founded by professor-student pair Henry Samueli and Henry Nicholas from UCLA in 1991.
In researching this post, I came across a number of recent reports on Henry Nicholas III, the once high-flying CEO and cofounder of Broadcom. While the story was enthralling, I didn't understand what any of it had to do with a federal investigation into stock option backdating.
Under the deal, Cypress acquires Broadcom's Io T products and intellectual property for Wi-Fi, Bluetooth and Zig Bee connectivity, as well as Broadcom's WICED platform and SDK for developers.Integrated Circuits Cable Converter Boxes Gigabit Ethernet Wireless networks Cable modems Mobile communications Network Switches Digital Subscriber Line Server farms Processors Bluetooth Vo IP Near Field Communication GPS Metropolitan Area Network Broadcom Corporation was an American fabless semiconductor company that made products for the wireless and broadband communication industry.It was acquired by Avago Technologies in 2016 and currently operates as a wholly owned subsidiary of the merged entity called Broadcom Limited.Broadcom is among Gartner's Top 10 Semiconductor Vendors by revenue. In 2012, Broadcom's total revenue was .01 billion. 327 on the Fortune 500, having climbed 17 places from its 2012 ranking of No. Broadcom shareholders will hold 32% of the new Singapore-based company to be called Broadcom Limited.Hock Tan, Avago President and CEO, will be the new CEO of the new combined company. Samueli will be Chief Technology Officer and member of the combined company's board. Nicholas will serve in a strategic advisory role within the new company.