May 15, 2008 |
Seeking the best and brightest during the tech boom, Broadcom Corp. founders Henry T. Nicholas III and Henry Samueli tossed out millions of stock options to attract and reward favored employees, whose Porsches and Lamborghinis gleamed in the parking lot as they worked late into the night. On Wednesday, federal regulators accused the Orange County billionaires of manipulating the options illegally for five years.
April 23, 2008 |
Broadcom Corp. said Tuesday that profit rose 22%, beating analysts' estimates, on higher demand from communications equipment companies. First-quarter net income rose to $74.3 million, or 14 cents a share, from $61 million, or 10 cents, a year earlier, Irvine-based Broadcom said. Sales rose 15% to $1.03 billion, also beating analysts' projections. Sales of semiconductors to companies that make fixed-line phone equipment were higher than expected, Chief Executive Scott McGregor said.
December 13, 2007 |
Broadcom Corp. was awarded $9.26 million in legal costs and interest in a patent dispute with competing chip maker Qualcomm Inc. after a federal court had ruled that Qualcomm improperly concealed documents. U.S. District Judge Rudi Brewster, in an order filed Tuesday in San Diego, ordered Qualcomm to pay Broadcom's attorney fees, litigation expenses, expert witness fees and prejudgment interest.
December 1, 2007 |
A former Broadcom Corp. executive has agreed to plead guilty to instructing a subordinate to delete a damaging e-mail, court documents disclosed Friday. Federal prosecutors had alleged that the note had provided evidence of stock manipulation by senior executives, including Broadcom founders Henry Samueli and Henry T. Nicholas III. Prosecutors filed an obstruction-of-justice charge against Nancy Tullos, a former human relations vice president at the Irvine chip maker.
November 27, 2007 |
A former Broadcom Corp. executive has agreed to plead guilty to obstruction of justice in connection with a federal probe into the manipulation of stock option grants at the Irvine chip maker, people close to the investigation said Monday.
November 24, 2007 |
Chip maker Broadcom Corp. said Friday that it would accept a jury's $19.6-million damage award in a patent dispute with Qualcomm Inc. after a judge withdrew his ruling doubling the amount. U.S. District Judge James V. Selna in Santa Ana had doubled the award after finding that Qualcomm's patent infringement was intentional. On Wednesday, he restored the original amount after a federal appellate court raised the bar for proving patent infringement in an unrelated case.
November 20, 2007 |
An attorney who ran Orange County billionaire Henry T. Nicholas' private affairs for more than five years has been in discussions with federal prosecutors about cooperating with a criminal investigation of the Broadcom Corp. founder, according to court filings. Former Nicholas aide Craig S. Gunther and the government have been unable to reach a plea agreement so far, the filings say.
November 16, 2007 |
Irvine-based computer chip maker Broadcom Corp., whose shares have fallen 12% this year, said Thursday that it would buy back as much as $1 billion in stock, or more than 7% of the company's shares outstanding. The buyback will take place from Monday to the end of next year. Broadcom said it completed a previous $1-billion buyback Nov. 1. Shares of Broadcom, whose chips are found in Apple Inc.'s iPhone and Motorola Inc.'s television set-top boxes, fell 14 cents Thursday to $28.52.
October 25, 2007 |
Broadcom Corp. executives have a vision of the Irvine chip maker eventually supplying all the brains and power in cellphones, but Wall Street wasn't waiting Wednesday for that to happen. Company shares cratered, losing $7.14, or 17%, to $34.92 after the company said late Tuesday that research and development expenses were higher than normal and would continue to be high.