In a decision that astounded his defense team and a courtroom full of observers, Gregory Reyes, the former CEO of Brocade Communications, was convicted Tuesday on 10 felony counts relating to the backdating of stock options. Reyes, whom prosecutors said faces up to 20 years in prison, was the first of a string of executives to be indicted on charges of misdating stock options. Reyes' indictment accused him of altering dates, and not of profiting directly from the scheme.
Former Brocade CEO Found Guilty on All Counts
August 8, 2007