SEC Abandons Beleaguered Backdating Case Against Former Broadcom Executives
The SEC has voluntarily dropped its civil case against four former Broadcom executives, including the former general counsel. It was the latest setback in the U.S. government's pursuit of securities fraud tied to stock options backdating at Broadcom. In December, a federal judge dismissed criminal charges against Broadcom co-founder Henry Nicholas and former CFO William Ruehle, largely due to prosecutorial misconduct. The judge also dismissed the SEC's related complaint but gave the commission the option to amend the charges.
