S.E.C. Is Investigating Options Practices at Broadcom
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The Securities and Exchange Commission has opened a formal investigation into Broadcom Corporationâs options practices.
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American Funds and Edward Jones &amp; Co. are among the financial firms that regulators are requesting information from in a sweeping examination into sales and disclosure of 529 college-savings plans.
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WASHINGTON -- The government is aggressively investigating the suspicious timing of stock options granted to top executives at scores of companies, federal officials said yesterday.
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The U.S. International Trade Commission (ITC)&#160;said it will investigate whether Qualcomm is complying with a ban that prohibits it from importing certain chips into the U.S.The investigation is the result of a complaint that Broadcom filed with the U.S. ITC. Qualcomm is importing chips that employ a work-around of a Broadcom patent that the court ruled Qualcomm infringes. Broadcom alleges that the new technology also infringes its patent.The investigation is the latest chapter in a long-running dispute between the two chip companies. In July, the ITC ruled that Qualcomm was infringing on Broadcom patents. In a very rare decision,&#160;the ITC forbade the import of phones that included future versions of certain Qualcomm chips rather than all the offending chips because the commission decided that would have unduly damaged the economy.However,&#160;the U.S. Court of Appeals for the Federal Circuit has since stayed that ruling.One attorney suspects that Broadcom&#39;s most recent complaint to the ITC is an effort to essentially overrule the appeals&#39; court stay.&quot;This enforcement proceeding represents a crafty way for Broadcom to get around the court&#39;s stay and go directly to the ITC to give some teeth to the remedy provided by the ITC,&quot; said Lyle Vander Schaaf, an attorney at Bryan Cave and a former ITC attorney.If the commission decides in Broadcom&#39;s favor, Qualcomm could face millions of dollars in penalties, he said.Broadcom said it is seeking fines and additional orders against Qualcomm.
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- Chip designer Broadcom Corp.  said the U.S. International Trade Commission (ITC) denied Qualcomm Inc's  request to stay the regulator's recent order in the ongoing patent dispute between the companies.
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Other Silicon Valley companies are also under scrutiny for their stock option granting practices.
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The S.E.C. has begun an inquiry into whether two senior executives secretly tried to put the company into play.
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By The Orange County Register, Calif.  Feb. 17--A federal investigation into stock options issued by Broadcom  Corp. has driven a wedge between the Irvine semiconductor company and its  chairman, Henry Samueli.
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The Securities and Exchange Commission is scrutinizing biotechnology companies as part of a wider effort to ensure that companies don&#39;t mislead investors
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NEW YORK, Nov. 8 -- The Securities and Exchange Commission is investigating whether more than a dozen big brokerage firms failed to execute certain trades at the best possible prices for individual investors, sources familiar with the probe said.
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By John Gittelsohn, The Orange County Register, Calif.  Sep. 20--Broadcom's chief financial officer is retiring immediately in  connection with its investigation of stock option awards, the Irvine  semiconductor and telecommunications company said Tuesday.    William J.
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Microchip maker Broadcom Corp.   said on Friday it found more discrepancies in the  dates of past stock-option grants, and expects to record  additional expenses at least double its previous estimate.
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Take-Two Interactive Software Inc.,  owner of the blockbuster &quot;Grand Theft Auto&quot; video game series,  on Monday said regulators launched an informal investigation  into its stock options policies dating back to 1997.
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Swiss reinsurer Converium has confirmed in a regulatory filing that it is facing a probe by the US Securities and Exchange Commission into possible insider trading of its stock ahead of a profit warning in July.
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Federal officials investigating  stock-options backdating at Broadcom Corp.  are looking  into allegations that former Chief Executive Henry Nicholas III  used hard drugs and hired prostitutes, the Wall Street Journal  reported on Friday.
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By Mary Ann Milbourn, The Orange County Register, Calif.  Sep. 9--Irvine chipmaker Broadcom Corp.
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A band of tech companies will present an alternative method for valuing stock options that would provide lower expenses to the companies than legislation currently under review, according to a report published Tuesday.