Gregory Reyes

Gregory Reyes

Gregory Reyes, the former chief executive of Brocade Communications, was convicted of conspiracy and fraud in connection with back-dating stock options.

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From:   www.ap.org
A federal appeals court has tossed out the criminal conviction of the first Silicon Valley executive to go to trial in a stock options scandal that triggered charges against at least a dozen executives. The 9th U.S. Circuit Court of Appeals ordered a new trial Tuesday for Gregory Reyes, former chief executive of Brocade Communications Systems Inc., citing prosecutor misconduct. The court says a prosecutor lied when he told the jury that Brocade's finance department was unaware that Reyes was doling out backdated stock options to company employees. The jury went on to convict Reyes of all 10 felony counts, including fraud, falsified accounting, ... Read Full Story
Written by celebritywealth on
Broadcom Cofounder Henry Nicolas III faces up to 360 years in prison for backdating options and distribution of drugs. Read Full Story
Written by Tony on
The San Francisco federal jury found Mr Reyes, 44, guilty on all 10 counts after a six week trial. “It sends a message that perhaps some of this stuff is really bad. It’s not just technical,” said Henry Hu, a University of Texas law professor. “It increases the bargaining power of the SEC and the justice department.” Ugly.... Read Full Story
Written by Cramerican on
Brocade Communications Systems former personnel director did not conspire to backdate employee stock-option awards, the company’s former CEO said in an unsealed court document that goes against a jury’s findings in the case. Stephanie Jensen, Brocade’s former vice president of human resources, “never participated in a scheme to defraud Brocade, its board, its shareholders, its auditors, the public” or the U.S. Securities and Exchange Commission, former Brocade Chief Executive Gregory Reyes said in a sworn statement in March. Read Full Story
Written by HoovEdJeff on
Update on the stock-options backdating scandal : One executive is definitely going to prison, another may be headed there (subject to appeal), and the snare seems to be closing around the founders of a big chip maker. Carole Argo, the former president, COO, and CFO of SafeNet , has pleaded guilty to securities fraud and was recently sentenced to six months in prison and fined $1 million. In her plea, Argo admitted to backdating millions of dollars’ worth of employee stock-option grants. Backdating itself — changing the dates when options are granted and exercised, specifically timing the dates to take advantage of perturbations in ... Read Full Story
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Gregory Reyes

Gregory Reyes

Linked from: nwsource.com

Brocade and Thales secure SAN dataData storage switch maker Brocade Communications Systems and Thales e-Security today announced the integration of the Thales Encryption Manager for Storage (TEMS) with the Brocade encryption SAN switches.  
From techworld.com ()
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Brocade Communications Systems has hung a "for sale" sign on its door, according to a report today in the Wall Street Journal. Brocade declined to comment on the report. Hewlett-Packard and Oracle have shown interest in buying Brocade, which make switches for routing data storage traffic, according to the report, which added that an agreement is not imminent.  
From infoworld.com ()
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Much, much smaller Cisco rival Brocade Communications Systems, which has gotten a lot more popular with OEMs like IBM and Dell since Cisco went into the server business, is supposedly thinking selling itself off, or so said an unconfirmed piece in the Wall Street Journal Monday. The paper claims HP and maybe Oracle (think Sun) are interested but that nothing is imminent and in fact nothing may ultimately come of the notion.read more  
From ajax.sys-con.com ()
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Despite winning a reversal of his conviction over backdated stock options, Brocade Communications Systems Inc.'s former CEO Gregory Reyes will pay a $12.5 million settlement of a company lawsuit regarding the matter.  
From bizjournals.com ()
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CINCINNATI--(BUSINESS WIRE)--Without solid details to perpetuate the rally, euphoria doesn't last very long on Wall Street. For instance, the shares Brocade Communications Systems Inc. (NASDAQ: BRCD) have pulled back more than 2% today following yesterday's nearly 19% rally on news that the company has put itself on the auction block. However, without a confirmed bid from a definite suitor, traders have allowed the shares to meander lower in...  
From businesswire.com ()
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Brocade Communications (NasdaqNM: BRCD) opened at $9.58. So far today, the stock has hit a low of $9.48 and a high of $9.81. BRCD is now trading at $9.58, up $0.05 (0.52%). Over the last 52 weeks the stock has ranged from a low of $2.05 to a high of $9.84. Shares of BRCD are rising today on rumors that the company could be a target for takeover. Some analysts are speculating that Hewlett-Packard (HPQ)...  
From marketintelligencecenter.com ()
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Brocade Communications Systems today announced the Brocade Mobility next-generation 802.11 wireless LAN (WLAN) solution set, featuring a full line of wireless switches and dual- and tri-radio 802.11n access points (AP) to deliver highly reliable and secure wireless connectivity required by enterprises, while helping to minimize acquisition and operational costs. The new Brocade Mobility 802.11n solution set leverages Motorola’s award-winning...  
From pr-inside.com ()
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Oracle CEO Larry Ellison reportedly told shareholders that Oracle is not interested in buying networking vendor Brocade, which is rumored to be for sale. Oracle and HP were among the companies reportedly interested in buying Brocade. IBM, Cisco and Dell are other names that have been mentioned as possible buyers. - Dont look to Oracle to buy networking vendor Brocade Communications Systems. Oracle CEO Larry Ellison reportedly said during...  
From eweek.com ()
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NEW YORK (Reuters) - U.S. network equipment maker Brocade Communications Systems Inc (BRCD.O) has put itself up for sale and Hewlett-Packard Co (HPQ.N) is among the possible bidders, the Wall Street Journal reported on Monday, triggering a 17 percent jump in Brocade shares. The paper, citing people familiar with the matter, also named Oracle Corp (ORCL.O) [...]  
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NEW YORK, Oct 5 (Reuters) - Brocade Communications Systems Inc is putting itself on the block and Hewlett-Packard Co is one of the companies that could be interested in buying the network gear maker, people familiar with the matter said.  
From reuters.com ()
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