From the day former Brocade Communications CEO Gregory Reyes faced backdating charges, the Justice Department and the SEC never seemed to see the case the same way. Prosecutors focused on Reyes, offering immunity to his finance officers, while the SEC saw broader culpability. Now those agencies will have to reconcile their approaches to the case, as Reyes' lawyers hope a tough SEC settlement will help forestall another criminal trial.
September 08, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
From the day former Brocade Communications CEO Gregory Reyes faced backdating charges, the Justice Department and Securities and Exchange Commission never seemed to see the case the same way. Prosecutors focused on Reyes, offering immunity to his finance officers, while the SEC saw broader culpability.
Now those agencies will have to reconcile their approaches to the case, as Reyes’ lawyers hope a tough SEC settlement will help forestall another criminal trial.
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