SEC Blasts Ex-Brocade CEO For Withholding Data

Law360, New York (August 22, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has accused Brocade Communication System Inc.’s former chief executive Gregory Reyes of tying up the discovery process in the agency’s case against him for allegedly orchestrating the backdating of stock options at the data storage networking company.

Reyes, who was convicted of defrauding investors earlier this month in the first criminal trial of the backdating scandal that has enveloped about 200 companies, drew fire from the SEC on Wednesday for allegedly preventing key information from being produced.

In two separate...
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