The U.S. Securities and Exchange Commission has voluntarily dropped its civil case against four former executives of Broadcom Corp., including the former general counsel. The move came one week after a federal judge said there were “serious problems” with the charges.

It was the latest setback in the U.S. government’s pursuit of securities fraud tied to stock options backdating at Broadcom. On Dec. 15, U.S. District Judge Cormac Carney dismissed criminal charges against Broadcom co-founder Henry Nicholas and William Ruehle, the former chief financial officer, based in large part on prosecutorial misconduct. The judge also dismissed the SEC’s related complaint but gave the commission the option to amend the charges.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]