Prosecutors in the first stock option backdating trial opened an important door Friday, and lawyers for defendant Gregory Reyes barged right in. In his trial on charges of manipulating option prices, the former Brocade Communications CEO has been unable to raise an argument his lawyers were making publicly for months: that Brocade is one of dozens of companies with similar option issues, and was singled out unfairly. Then the government brought up an analyst whose firm held a sizable chunk of Brocade stock.
July 02, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Prosecutors in the first stock option backdating trial opened an important door Friday — and lawyers for defendant Gregory Reyes barged right in.
In his trial on charges of fraudulently manipulating option prices for employees, the former CEO of Brocade Communications has been unable to bring up a key argument that his lawyers were making publicly for months before proceedings started: that Brocade is one of dozens of companies with similar option issues and was singled out unfairly.
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