The deal ended the patent litigation as well as complaints of anti-competitive behavior before trade commissions in the United States, Europe and South Korea. International Trade Commission blocked the import of new cell phone models based on particular Qualcomm microchips.
As part of the settlement, Qualcomm paid 1 million in cash to Broadcom over a four-year period ending June 2013. They found that these Qualcomm microchips infringe patents owned by Broadcom.
Just about a mile away, a couple more executives succumbed to the backdating bug at KLA-Tencor.
KLA-Tencor will be restating financials from 1997 to 2002, and expects to record up to an additional 0 million of compensation expense due to improper dating of options. CEO Kenneth Schroeder and general counsel Stuart Nichols.
This has many practical benefits for e-commerce, and PGP or GPG secure communications.
The new merged entity is named Broadcom Limited but inherits the ticker symbol AVGO. In May 2016 Cypress Semiconductor announced that it will acquire Broadcom Corporation's full portfolio of Io T products for 0 million.
Under the settlement, the company will pay million.
Records show that co-lead plaintiffs in the case included the Police and Fire Retirement System for the City of Detroit and the City of Philadelphia Board of Pensions and Retirement.
They’re joined by board chairman and former CEO Kenneth Levy.
The body count continues, and it shows that one of the early investor concerns over backdating investigations is coming to fruition: what happens to a firm if it loses management talent?