Reyes Gets 21 Months In Jail, $15M Fine

Law360, New York (January 16, 2008, 12:00 AM EST) -- The one-time head of Brocade Communications Systems Inc. was handed a 21-month prison sentence and a $15 million penalty on Wednesday for his role in a stock options backdating scandal.

Gregory Reyes, the data storage networking firm's ex-chief executive, was sentenced in the U.S. District Court in San Francisco after Judge Charles Breyer rebuffed the CEO's allegations last week that a key witness had lied during testimony and refused to grant a new trial.

Richard Marmaro, an attorney for Reyes, said after the sentencing that his...
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