A federal jury on Friday convicted former Brocade CEO Gregory Reyes on nine out of 10 felony counts -- just one less than the last time he was tried over the backdating of stock options. Sentencing is set for June 24 for Reyes, who marked the goverment's first and most high-profile conviction of an executive for backdating until his 2007 conviction was thrown out last year by the 9th Circuit, which said prosecutors had misled jurors with false assertions during closing arguments.
March 29, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A federal jury on Friday convicted former Brocade CEO Gregory Reyes on nine out of 10 felony counts — just one less than the last time he was tried over the backdating of stock options.
The government had seen its 2007 conviction of Reyes, its first and most high-profile conviction of an executive over backdating, thrown out last year by the 9th U.S. Circuit Court of Appeals, which said prosecutors had misled jurors with false assertions during closing arguments.
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