Thank you for sharing!

Your article was successfully shared with the contacts you provided.
SAN FRANCISCO —� A federal judge has agreed to sever the options backdating fraud and conspiracy trials of two top executives with Brocade Communications Systems, Inc. A central factor was the sealed statement by indicted former CEO Gregory Reyes that he would provide “substantially exculpatory” testimony in support of co-defendant Stephanie Jensen, the former vice president and human resources director at Brocade. Even more significant to U.S. District Judge Charles Breyer, “Reyes has not attached any conditions to his commitment to testify.” He would testify even if her case was tried first and it resulted in an irrevocable commitment to testify and waive his Fifth Amendment rights regarding those statements, according to Breyer. Jensen has demonstrated Reyes has offered unconditionally to testify and that “his proffered testimony is substantially exculpatory,” said Breyer in an order made public Monday. Reyes, 44, of Saratoga, Ca. and Jensen, 48, of Los Altos, Ca., were among the first executives to be indicted in the options backdating scandal.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.