Backdating stock options wikipedia

Before starting Broadcom, Henry Samueli worked in the department of engineering at the University of California, Los Angeles, and he and his wife subsequently made major donations to the UCLA Henry Samueli School of Engineering and Applied Science and UC Irvine Henry Samueli School of Engineering, which have since been named after him.Samueli's donation founded the Sala and Aron Samueli Holocaust Memorial Library at Chapman University, which was dedicated in 2005.Both the Securities and Exchange Commission, as well as the Department of Justice had been investigating Broadcom Corporation for backdating of stock options.On June 23, 2008, Samueli pleaded guilty for lying to SEC for .2 billion of backdating.Henry Samueli (born September 20, 1954) is an American businessman, engineer, and philanthropist. In 2016, Forbes placed Samueli's net worth at .1 billion. Each invested ,000 and worked out of Nicholas' Redondo Beach home, moving to Irvine four years later and taking the firm public three years after that.He is the co-founder of Broadcom, owner of the Anaheim Ducks, and a prominent philanthropist in the Orange County, California community. Samueli became interested in electronics when he took a shop class at Bancroft. In June 2005, he and his wife Susan bought the NHL's Mighty Ducks of Anaheim from the Walt Disney Company for million.Under the plea bargain, Samueli agreed to a sentence of five years probation, a 0,000 criminal fine, and a million payment to the US Treasury.During the technology boom in the 2000s, Samueli and Broadcom co-founder Henry T.

Under the ownership of Samueli and his wife Susan, the Ducks won the 2007 Stanley Cup championship. In January 2015, Samueli, his wife and his daughter acquired ownership of the Ducks' American Hockey League affiliate, the Norfolk Admirals.

Nicholas III awarded millions of stock options to attract and reward employees.

Prosecutors alleged Samueli and Nicholas granted options to others, including some other top executives but not themselves, to avoid having to report .2 billion in compensation costs to shareholders.

In his early years in New York, he met an electrical engineer and together with his brother in law, a professor of Computer Science at Columbia University, the three conceived voice mail technology and developed the idea of what was to become Comverse Technology.

The founders understood already then that communications will be a big market, and pioneered the voice mail systems that today are used by telecoms worldwide to support telephony services.

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However, an internal Broadcom probe laid the majority of blame on Henry Nicholas and William Ruehle.

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