Brocade, Ex-CEO Pursue Deal In Backdating Suit

Law360, New York (February 3, 2009, 12:00 AM EST) -- Former Brocade Communications Systems Inc. CEO Gregory Reyes, who was convicted in 2007 for his alleged role in a backdating options scandal at the company, may be nearing a settlement with the company over claims that he violated his fiduciary duties and backdated for personal gain.

Lawyers representing Reyes and the San Jose, Calif.-based data management company lodged a joint filing Monday in the U.S. District Court for the Northern District of California that said the parties were attempting to resolve Brocade’s suit against Reyes and...
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