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: Legal Pad | LA

SEC drops Broadcom suit

By Richard Binder

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The U.S. Securities and Exchange Commission has voluntarily dropped its civil case against four former executives of Broadcom Corp., including its former general counsel, David Dull.

Filed last year, the SEC's suit had named former CFO William Ruehle and co-founders Henry Nicholas and Henry Samueli, in addition to Dull.

On Dec. 15, U.S. District Judge Cormac Carney dismissed criminal charges against Nicholas and Ruehle, based in large part on prosecutorial misconduct. In a notice of intent not to proceed filed on Thursday, Molly White, an attorney in the SEC's Los Angeles office, cited that decision as well as statements Carney made during a subsequent hearing on Jan. 28.

SEC spokesman John Heine declined to comment beyond a news release issued on yesterday.

Full story at NLJ.com.

Full post as published by Legal Pad | LA on February 05, 2010 (boomark / email).

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