August 7, 2007
Former CEO of Brocade Communications Convicted on Backdating Charges
A jury found Gregory Reyes, former CEO of Brocade Communications, guilty on 10 felony counts relating to the backdating of stock options from 2000 to 2004. The trial was closely watched because it is the first criminal case involving backdating, and the defendant's defense was principally that as a non-accountant and non-lawyer Reyes did not understand that backdating was illegal. WSC, Former Brocade CEO Is Found Guilty On All Counts in Backdating Case.
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