Broadcom VP Will Return $1.2 Million

LOS ANGELES (CN) - The SEC settled a complaint against Broadcom's former vice president Nancy Tullos, who will disgorge more than $1.2 million she got by backdating stock options from 1998 to 2003, and pay a $100,000 fine. Broadcom has restated its financial results to report an additional $2.2 billion in compensation expenses from 1998 to 2005 - the largest restatement yet in the stock options backdating scandals, the SEC said.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit