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Ducks Owner in Hot Water

From the LA Times,

The Securities and Exchange Commission today filed civil fraud complaint against Broadcom Corp. co-founders Henry T. Nicholas and Henry Samueli, owner of the NHL Ducks, in an alleged scheme to systematically backdate stock options.

The complaint, filed in U.S. District Court in Santa Ana, also names former Chief Financial Officer William J. Ruehle and General Counsel David Dull.  None of the current and former officials at the Irvine-based chip maker could be reached for comment immediately.

The complaint comes on the heels of an SEC lawsuit filed against Broadcom on April 22 alleging that Nicholas, Samueli and other senior Broadcom executives “orchestrated and carried out” a long-running scheme to backdate stock options.

continued…

Update 5:15pm ET: A comment from Michael Schulman, CEO of the Anaheim Ducks:

“In terms of the Ducks, nothing is changed there, or in terms of our operation . . . this does not impact the Ducks.”

Filed in: NHL Teams, Anaheim Ducks, | KK Hockey | Permalink
  Tags: henry+samueli

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About Kukla's Korner Hockey

Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com