Ex-Brocade Execs, SEC Settle Backdating Claims

Law360, New York (April 6, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has settled its civil suit against two of the former executives allegedly responsible for backdating stock options at Brocade Communications Systems Inc.

On Monday, the SEC entered consent judgments against Brocade Chief Financial Officer Antonio Canova and Stephanie Jensen, the former president of human resources at the data storage networking company, ending litigation over their role in the backdating scandal.

While neither admitting nor denying the agency’s claims that Jensen and Canova were complicit in the massive backdating scheme at...
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