Securities
Mar. 17, 2011
Broadcom Founders Reach Settlement
The two billionaire co-founders of Broadcom have agreed to transfer $26 million each in vested stock options to the company's coffers to settle civil fraud allegations a long-running shareholder suit, sources said.
Daily Journal Staff Writer
LOS ANGELES - The two billionaire co-founders of Broadcom Corp. have agreed to transfer $26 million each in vested stock options to the company's coffers to settle civil fraud allegations in a long-running shareholder derivative suit, according to multiple sources.
In addition, the tentative settlement provides former Chief Financial Officer William J. Ruehle with credit for giving up $26 million...
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