9th Circ. Upholds Ex-Brocade CEO's Backdating Conviction

Law360, New York (October 13, 2011, 5:59 PM EDT) -- The Ninth Circuit on Thursday affirmed the conviction of former Brocade Communications Systems Inc. CEO Gregory L. Reyes for engineering an options backdating scheme during his time at the data storage company.

The appeals court, which vacated Reyes' first conviction in 2009, this time rejected Reyes' arguments of prosecutorial misconduct and improper jury instructions in his second trial.

The former executive was found guilty in March 2010 of backdating stock option grants to falsely inflate earnings in the financial statements that Brocade filed with the U.S....
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