NEW YORK, May 14 (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday it charged two current and two former top officers of chip maker Broadcom Corp with backdating stock options.
The SEC said it filed a federal court complaint against co-founder, Chairman and Chief Technology Officer Henry Samueli and General Counsel David Dull, as well as Broadcom ex-Chief Executive Officer Henry Nicholas and former Chief Financial Officer William Ruehle.
The charges, which sent the company's shares down 2 percent, follow Broadcom's agreement, announced on April 22, to pay $12 million to settle SEC charges that it fraudulently backdated stock options.
The article also says that the SEC is seeking "officer-and-director bars" against all four. That would probably mean that Henry Samueli and David Dull would have to quit if they lost, and Henry can't be chairman of the board anymore.
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