Violation Tracker Individual Record

Company: 
Broadcom Corp.
Current Parent Company: 
Broadcom
Penalty: 
$160,500,000
Year: 
2009
Date: 
December 29, 2009
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

In a case brought by the New Mexico AG on behalf of the state investment council and other investors, Broadcom agreed to pay $160.5 million to settle allegations relating to the backdating of stock options.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New Mexico Attorney General
Civil or Criminal Case: 
civil
Facility State: 
New Mexico
HQ Country of Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
electrical and electronic equipment
Specific Industry of Parent: 
electronic equipment
Source of Data: 

AG Settles Securities Fraud Lawsuit; State Investment Council to Receive $160.5 Million, Targeted News Service, December 29, 2009 (via Nexis).

Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.