Jury Convicts Second Brocade Executive

Law360, New York (December 6, 2007, 12:00 AM EST) -- A jury has convicted another Brocade Communications Systems Inc. former executive of participating in a scheme to backdate stock options, finding former human resources chief Stephanie Jensen guilty of conspiracy and falsifying records.

In a verdict handed down on Wednesday, a jury in the U.S. District Court for the Northern District of California found Jensen guilty of falsifying offer letters and other documents in order to lock in lower stock options grant prices.

Attorneys for Jensen argued that she simply implemented compensation procedures that were in...
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