Parties In Brocade Case Ask To Keep Data Private

Law360, New York (June 27, 2007, 12:00 AM EDT) -- Hoping to end a month-long dispute, the U.S. Securities and Exchange Commission and Brocade Communication Inc.’s former chief executive officer have proposed keeping financial information produced by two brokerage firms confidential.

Judge Charles R. Breyer, who is presiding over the SEC’s securities case against Gregory Reyes for allegedly backdating stock options at the data storage networking company, refused earlier this month to quash the SEC’s subpoenas of Merrill Lynch & Co. Inc. and Deutsche Bank AG regarding accounts owned by Reyes.

The two parties, which had...
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