Judge Sends Brocade Suit Back To State Court

Law360, New York (March 6, 2008, 12:00 AM EST) -- A securities class action lawsuit against the former executives of Brocade Communications Inc. in the wake of the stock options backdating scandal will proceed in state court, after a federal court refused to grant the defendants' bid for dismissal.

In a decision handed down on March 6 in the U.S. District Court for the Northern District of California, Judge Charles A. Breyer denied a motion to dismiss filed by former Brocade CEO Gregory L. Reyes and several other former executives.

Judge Breyer remanded the case to...
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