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"It's very hard to get convictions in these cases where you have to show criminal intent," says Peter Henning, a law professor at Wayne State University.

"There is no smoking gun." In the case of Broadcom (BRCM, Fortune 500), the U. Attorney for the Central District of California has until May to file appeals against the dismissals.

In the criminal backdating case of Brocade Communications (BRCD), CEO Greg Reyes' was convicted, but that was overturned on appeal and he is to be retried.

Perhaps most notoriously, Kobi Alexander, the former CEO of tech firm Comverse Technology (CMVT) recently contributed $60 million to the settlement of a class action suit over backdating, but has been living on the lam from federal prosecutors in Namibia.

LOS ANGELES (Fortune) -- As CEO-gone-bad cases go, Henry Nicholas' had it all: heavy allegations of sex, drugs, and rock and roll, as well as big-time corporate number-fudging.