August 11, 2006 |
Federal prosecutors added more charges against the nation's first two executives charged in a widening crackdown on the backdating of stock options. Gregory Reyes, the former chief executive of Brocade Communications Systems Inc., and Stephanie Jensen, Brocade's former vice president of human resources, were originally charged with one count each of securities fraud in a criminal complaint July 20.
July 7, 2007 |
A federal judge questioned whether U.S. prosecutors have enough evidence to convict Gregory Reyes, Brocade Communications Systems Inc.'s former chief executive, of illegally backdating stock options. At a hearing Friday in San Francisco on whether to dismiss a criminal case against Reyes, U.S. District Judge Charles Breyer repeatedly asked government lawyers to show evidence that Reyes, 44, understood accounting rules about stock option grants or acted recklessly in handling them.
August 18, 2007 |
The former chief financial officer of Brocade Communications Systems Inc. was charged with eight counts of civil securities fraud in the company's accounting of backdated stock option awards.
January 1, 2001 |
Brocade Communications Systems Inc. President Gregg Reyes said he is comfortable with consensus earnings estimates of 63 cents a share for the fiscal year ending October 2001, Barron's reported in its Jan. 1 issue. The San Jose-based maker of equipment designed to improve data storage in computer systems reported earnings of 28 cents a share for the year ended October 2000, adjusted for a stock split on Dec. 22.
December 6, 2007 |
A federal jury Wednesday convicted a former human-resources chief at Brocade Communications Systems Inc. of conspiracy and falsifying records in the latest trial stemming from option-backdating probes that scores of companies are facing. Stephanie Jensen was the second former executive at San Jose-based Brocade, a maker of switches used to connect corporate computers to data-storage machines, to be found guilty at trial in the case.
January 17, 2008 |
Former Brocade Communications Systems Inc. Chief Executive Gregory Reyes, the first CEO convicted by a jury for manipulating stock options, was sentenced Wednesday to 21 months in prison and ordered to pay a $15-million fine. Prosecutors had sought a 33-month sentence. In giving the lesser term, U.S. District Judge Charles Breyer in San Francisco said he took into account Reyes' contributions to charity.