Shareholders of chip maker Broadcom Corp. should withhold votes for Chairman Henry Samueli at their annual meeting because of his role in backdating stock options, a corporate-governance group recommended.
Irvine-based Broadcom in January reported the largest restatement so far related to misdated stock options, adding $2.2 billion in costs for the years 1998 to 2005. The maker of silicon chips for consumer devices said Samueli reasonably relied on outside experts when granting the options.
