Brocade Communications has shelled out more than $46 million for former CEO Gregory Reyes' legal fees, and federal prosecutors say he should pay the company back. Reyes, found guilty last summer in the first criminal trial for stock option backdating, also should be on the hook for $8.5 million in legal costs associated with Brocade's internal investigations, the government argued in its sentencing memorandum filed Thursday. All told, Reyes should pay Brocade $90 million in restitution, prosecutors argue.
January 14, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Brocade Communications has shelled out more than $46 million for former CEO Gregory Reyes’ legal fees, and federal prosecutors say he should pay the company back.
Reyes, found guilty last summer in the first criminal trial for stock option backdating, also should be on the hook for $8.5 million in legal costs associated with Brocade’s two internal investigations, the government argued in its sentencing memorandum filed Thursday.
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