As has been confirmed by the company, the settlement of the lawsuit, in which Broadcom's shareholders and investors had claimed securities fraud over stock options that were backdated, has come in just weeks after the "related criminal cases and a government civil action were thrown out".

"Today's settlement brings Broadcom closer to the day when we can put the stock-option cases behind us once and for all", said Broadcom CEO Scott McGregor.

On Tuesday, the company confirmed that it would pay $160.5 Million to settle the lawsuit, and the agreement has come within 3 weeks of a federal judge decided to do away with all the related cases.

Tuesday's settlement has marked the third time that Broadcom has agreed to pay in excess of millions of dollars to settle litigations which were options-related. As per the company, the development has been the "beginning of the end for the long-running controversy".

All details regarding how the money will be released to, and distributed among, all investors will be released at a later date.