Broadcom co-founders settle shareholder backdating suit

As part of the agreement, Henry Nicholas, the company's former CEO, will pay Broadcom $26.6 million, and Henry Samueli, Broadcom's chief technology officer, will pay $2.3 million to the Broadcom Foundation and the company will cancel $24.3 million of his unexercised stock options. In 2007 the Irvine-based chip maker was forced to write down $2.2 billion in connection with the options scandal. In 2009 it reached a partial settlement in the shareholders action that did not include Samueli or Nicholas. The settlement still has to be signed off by a federal judge in Los Angeles. (Bloomberg)