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Close Topic OptionsBrocade Communications Systems Inc.
Brocade Communications Systems Inc - Politics, Business, Civil, History - Posted: 2nd Mar, 2016 - 4:36pm
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Brocade Communications Systems Inc.
Former CEO to serve 21 months for backdating
Original Post Date: 26th Jan, 2008 - 3:56pm
This case has been seen as an important test of how seriously infractions of options-related securities laws will be punished.
QUOTE SAN FRANCISCO - The former chief executive of Brocade Communications Systems Inc. Was sentenced on Wednesday to 21 months in prison for orchestrating a scheme to tamper with financial records of stock options the company offered. Gregory Reyes, Brocade's CEO from 1998 to 2005, was also ordered to pay a $15 million fine. At the sentencing hearing, U.S. District Judge Charles Breyer said Reyes obstructed justice in preparing for trial.... Source 4i
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TOPIC: Brocade Communications Systems Inc.