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Henry Samueli

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NEWS
By Joseph Serna | December 8, 2009
Offering stock options that couldn’t be cashed in for two or three years was key to retaining employees with the Broadcom business in its first years, Broadcom co-founder Henry Samueli testified Tuesday during the fraud trial of the company’s chief financial officer. “It was a wonderful retention tool,” Samueli, a Newport Beach billionaire, testified on Tuesday during William Ruehle’s trial. Samueli testified in Ruehle’s defense that he came highly recommended as a potential hire by every Wall Street banker he talked to, and was widely known as a man of unshakable integrity.
NEWS
By Joseph Serna | December 29, 2009
The loose ends of a backdating stock-option occurrence that entangled local billionaire Henry Samueli and Broadcom Chief Financial Officer William Ruehle are slowing being tied up through the company’s announcement on Tuesday of the settlement of a class-action lawsuit. Broadcom officials announced that they have agreed in principle to settling a lawsuit by stockholders against the company and some of its executives for $160.5 million. The class was made up of people and organizations who bought stock in Irvine-based Broadcom between July 21, 2005 and July 13, 2006.
NEWS
June 10, 2007
Henry Samueli is known as a shrewd businessman. His Broadcom semiconductor empire is a prime example of his ability to take something from nothing and make billions of dollars. And when the Newport Beach businessman purchased the Mighty Ducks NHL hockey franchise from the Disney Co. in 2005, many local observers felt it was just a matter of time before that Samueli Midas touch extended to the icy confines of the Honda Center, which he also owns. Sure enough it did, and the Anaheim Ducks are Stanley Cup champions — the first time in the modern era that a NHL team from the West was able to claim that trophy.
NEWS
September 13, 2008
It would be hard for anyone to deny what Broadcom executive Henry Samueli has meant to this community. The philanthropy of Samueli and his wife, Susan, has been well documented and extensive. But philanthropy or not, justice must be served. Samueli is facing sentencing for a stock option backdating scheme that prosecutors allege he helped orchestrate. He and his attorneys and federal prosecutors, however, crafted an arrangement in which Samueli pleaded guilty and agreed to ante up $12 million in fines and agree to five years?
NEWS
May 29, 2010
The U.S. Attorney's office has dropped its appeal against Newport Beach billionaire Henry Samueli, who had a criminal case against him and other Broadcom executives dismissed by a federal judge last year. Samueli, co-founder of Broadcom and co-owner of the NHL's Anaheim Ducks, was charged with lying to the U.S. Securities and Exchange Commission about stock option backdating for company employees. Company co-founder Henry T. Nicholas III and Chief Financial Officer William Ruehle also faced federal charges.
LOCAL
By Joseph Serna | January 8, 2010
The U.S. attorney’s office is appealing a federal judge’s decision last month to throw out the criminal cases against two Broadcom executives, one of whom is Newport Beach resident and billionaire Henry Samueli. In motions filed Thursday, federal prosecutors are seeking to overturn U.S. District Judge Cormac J. Carney’s surprise decision in early December to throw out the government’s case against Broadcom co-founder Samueli and Henry T. Nicholas III. Carney announced his decision at the end of Samueli’s testimony during another executive’s trial.
BUSINESS
By Joseph Serna | December 29, 2009
The loose ends of a backdating stock-option incident that entangled local billionaire Henry Samueli and Broadcom Chief Financial Officer William Ruehle are slowly being tied up through the company’s settlement of a class-action lawsuit. Broadcom officials announced Tuesday that they have agreed in principle to settling a lawsuit by stockholders against the company and some of its executives for $160.5 million. The class was made up of people and organizations who bought stock in Irvine-based Broadcom between July 21, 2005, and July 13, 2006.
NEWS
By Joseph Serna | September 25, 2009
Local billionaire and Broadcom Corp. founder Henry Samueli next year will be at the mercy of a federal judge, who’ll sentence him to prison for pleading guilty to lying to government investigators about his role in a fraud. On Thursday, Samueli lost an appeal in the Ninth U.S. Circuit Court of Appeals. He was appealing Judge Cormac Carney’s decision to not accept a plea bargain that he and prosecutors had agreed to last year. Samueli pleaded guilty to lying to investigators about his company’s alleged stock-option back-dating scheme for Broadcom employees.
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NEWS
May 29, 2010
The U.S. Attorney's office has dropped its appeal against Newport Beach billionaire Henry Samueli, who had a criminal case against him and other Broadcom executives dismissed by a federal judge last year. Samueli, co-founder of Broadcom and co-owner of the NHL's Anaheim Ducks, was charged with lying to the U.S. Securities and Exchange Commission about stock option backdating for company employees. Company co-founder Henry T. Nicholas III and Chief Financial Officer William Ruehle also faced federal charges.
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LOCAL
By Joseph Serna | January 8, 2010
The U.S. attorney’s office is appealing a federal judge’s decision last month to throw out the criminal cases against two Broadcom executives, one of whom is Newport Beach resident and billionaire Henry Samueli. In motions filed Thursday, federal prosecutors are seeking to overturn U.S. District Judge Cormac J. Carney’s surprise decision in early December to throw out the government’s case against Broadcom co-founder Samueli and Henry T. Nicholas III. Carney announced his decision at the end of Samueli’s testimony during another executive’s trial.
BUSINESS
By Joseph Serna | December 30, 2009
The loose ends of a backdating stock-option incident that entangled local billionaire Henry Samueli and Broadcom Chief Financial Officer William Ruehle are slowly being tied up through the company’s settlement of a class-action lawsuit. Broadcom officials announced Tuesday that they have agreed in principle to settling a lawsuit by stockholders against the company and some of its executives for $160.5 million. The class was made up of people and organizations who bought stock in Irvine-based Broadcom between July 21, 2005, and July 13, 2006.
NEWS
By Joseph Serna | December 29, 2009
The loose ends of a backdating stock-option occurrence that entangled local billionaire Henry Samueli and Broadcom Chief Financial Officer William Ruehle are slowing being tied up through the company’s announcement on Tuesday of the settlement of a class-action lawsuit. Broadcom officials announced that they have agreed in principle to settling a lawsuit by stockholders against the company and some of its executives for $160.5 million. The class was made up of people and organizations who bought stock in Irvine-based Broadcom between July 21, 2005 and July 13, 2006.
NEWS
By Joseph Serna | December 9, 2009
A federal judge in Santa Ana has dismissed Newport Beach billionaire Henry Samueli’s guilty plea for allegedly lying to the Securities and Exchange Commission. Samueli, co-founder of Broadcom and owner of the Anaheim Ducks, did not knowingly make false statements to the SEC when they were investigating him and others for backdating stock options in the company, U.S. District Judge Cormac J. Carney,announced in court Wednesday. Carney, the same judge who rejected Samueli’s earlier plea deal that spared him jail time, apparently was convinced after two days of Samueli’s testimony that he did not deliberately deceive the SEC. Samueli was testifying in Broadcom Chief Financial Officer William Ruehle’s trial for allegedly backdating stock options for employees and lying to the government about it. Carney dismissed Samueli’s guilty plea, which came as part of a plea deal with federal prosecutors, officials said.
NEWS
By Joseph Serna | December 8, 2009
Offering stock options that couldn’t be cashed in for two or three years was key to retaining employees with the Broadcom business in its first years, Broadcom co-founder Henry Samueli testified Tuesday during the fraud trial of the company’s chief financial officer. “It was a wonderful retention tool,” Samueli, a Newport Beach billionaire, testified on Tuesday during William Ruehle’s trial. Samueli testified in Ruehle’s defense that he came highly recommended as a potential hire by every Wall Street banker he talked to, and was widely known as a man of unshakable integrity.
NEWS
By Joseph Serna | September 25, 2009
Local billionaire and Broadcom Corp. founder Henry Samueli next year will be at the mercy of a federal judge, who’ll sentence him to prison for pleading guilty to lying to government investigators about his role in a fraud. On Thursday, Samueli lost an appeal in the Ninth U.S. Circuit Court of Appeals. He was appealing Judge Cormac Carney’s decision to not accept a plea bargain that he and prosecutors had agreed to last year. Samueli pleaded guilty to lying to investigators about his company’s alleged stock-option back-dating scheme for Broadcom employees.
NEWS
September 13, 2008
It would be hard for anyone to deny what Broadcom executive Henry Samueli has meant to this community. The philanthropy of Samueli and his wife, Susan, has been well documented and extensive. But philanthropy or not, justice must be served. Samueli is facing sentencing for a stock option backdating scheme that prosecutors allege he helped orchestrate. He and his attorneys and federal prosecutors, however, crafted an arrangement in which Samueli pleaded guilty and agreed to ante up $12 million in fines and agree to five years?
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