Ex-Brocade CFO Puts SEC Backdating Case To Rest

Law360, New York (February 4, 2010, 2:56 PM EST) -- Brocade Communications Systems Inc.'s former Chief Financial Officer Michael J. Byrd agreed to cough up $424,843 and be permanently barred from violating federal securities laws, resolving the U.S. Securities and Exchange Commission's allegations that he turned a blind eye to stock option backdating at Brocade.

On Wednesday, a final judgment was filed in the SEC's case against Byrd, which had been unfolding in the U.S. District Court for the Northern District of California.

Byrd did not admit or deny the commission's allegations, but consented to the...
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