There has been widespread news coverage of the dramatic December 15, 2009 decision of Central District of California Judge Cormac Carney to throw out the options backdating related criminal charges against Broadcom co-founder Henry T.
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The amendment labeled executive compensation in excess of $1 million as unreasonable, and thus not eligible to be taken as a deduction on the firm's taxes.
Performance-based compensation, on the other hand, was deductible.
Broadcom is among Gartner's Top 10 Semiconductor Vendors by revenue. In 2012, Broadcom's total revenue was $8.01 billion. 327 on the Fortune 500, having climbed 17 places from its 2012 ranking of No. Broadcom shareholders will hold 32% of the new Singapore-based company to be called Broadcom Limited.
Hock Tan, Avago President and CEO, will be the new CEO of the new combined company. Samueli will be Chief Technology Officer and member of the combined company's board. Nicholas will serve in a strategic advisory role within the new company.
In the mid-2000s, an investigation by the Securities and Exchange Commission resulted in the resignations of more than 50 senior executives and CEOs at firms across the industry spectrum from restaurants and recruiters to home builders and healthcare.