No Remedies Levied Against Brocade CEO For Now

Law360, New York (August 25, 2008, 12:00 AM EDT) -- A federal judge has ruled that the criminal conviction of Brocade Communications Systems Inc.'s fallen CEO Gregory Reyes for options backdating prevents him from re-litigating civil securities fraud claims brought separately by the U.S. Securities and Exchange Commission, but has shot down the agency's request for remedies against him.

Judge Charles A. Breyer of the U.S. District Court for the Northern District of California said Monday that the criminal trial of Reyes — who has been sentenced to 21 months in prison and a $15 million...
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