First Charged In Backdating Scheme Plead Not Guilty

Law360, New York (August 31, 2006, 12:00 AM EDT) -- The first two former executives to face criminal charges in the stock-option backdating scandal pled not guilty Wednesday, but they likely won’t go to trial for nearly a year.

Judge Charles Breyer told former Brocade Communications Systems chief executive officer Gregory L. Reyes and former vice president of human resources Stephanie Jensen that they should prepare to go to trial next summer. He scheduled a status conference in the case for October.

Reyes and Jensen were originally charged in July with one count each of securities...
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