Henry Samueli, the co-founder of Broadcom Corp., is fighting to keep the public out of a pending hearing before the 9th U.S. Circuit Court of Appeals in which he is seeking to reinstate a plea deal that he reached last year with prosecutors.
Under the proposed plea in the U.S. government’s criminal case involving alleged stock options backdating at Broadcom, Samueli would have admitted making a false statement to the U.S. Securities and Exchange Commission regarding his role in the backdated stock options, which forced Broadcom to restate more than $2.2 billion in earnings in 2007. He would have served five years on probation and paid a $250,000 fine, plus $12 million to the U.S. Treasury.
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