Wednesday, December 9, 2009

You're Free To Go...

Wow, this is a stunning turn of events. Judge dismisses Henry Samueli's guilty plea and the charge of lying to the SEC... and he doesn't have to pay the $12M fine.

LA Times
Judge dismisses charge against Broadcom co-founder

Henry Samueli had pleaded guilty to one count of lying to the SEC in its stock options backdating probe. But after testifying in the trial of another Broadcom executive, the judge threw out the plea.

A federal judge this afternoon threw out the guilty plea of Broadcom Corp. co-founder and billionaire Henry Samueli and dismissed the charge against him of lying to investigators in a stock options backdating probe.

In a stunning reversal, U.S. District Judge Cormac J. Carney said Samueli did not make a material false statement to Securities and Exchange Commission investigators.

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