A Ninth Circuit panel reverses the only major conviction the government wrung from the stock options scandal, citing prosecutorial misconduct.
August 19, 2009 at 12:00 AM
1 minute read
SAN FRANCISCO — The Ninth Circuit has thrown out former Brocade CEO Gregory Reyes’ criminal conviction for backdating stock options because of prosecutorial misconduct.
A three-judge panel on the Ninth Circuit U.S. Court of Appeal on Tuesday ordered a new trial because the prosecution misled jurors with false assertions during closing arguments.
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