SEC, Brocade Exec Clash Over Subpoenas

Law360, New York (May 25, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has filed a motion opposing a former Brocade Communications Systems Inc. executive's attempt to quash the subpoenas of Merrill Lynch and Deutsche Bank in his case.

Former CEO Gregory Reyes, whom the SEC accused of improperly backdating stock options, has opposed the SEC's request to get information from the two brokerage firms that he had securities trading accounts with during the time covered by the allegations.

In a motion filed Friday in the U.S. District Court for the Northern District...
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