indian dating sites boston - Brocade backdating options

Reyes wiped his forehead with handkerchief and glared at the jury as the verdict was announced. His conviction could embolden prosecutors in their ongoing options investigation.

The government has reportedly been looking at filing criminal charges against former executives at Apple Inc., KLA-Tencor Corp. — companies that have all acknowledged stock options shenanigans.

A guilty verdict is anything but certain, analysts said, and the judge has said he could dismiss the charges in case of a conviction.

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On April 18, 2008, a new shareholder derivative action was filed that named as a defendant Brocade’s outside counsel, the law firm of Wilson, Sonsini, Goodrich & Rosati.

Although the complaint is not yet publicly available electronically, Plaintiffs reportedly allege that Wilson Sonsini committed legal malpractice in providing advice to Brocade on its stock options practices that ultimately led to civil litigation and criminal convictions.

Some defense witnesses testified that options-related expenses weren't even relevant in calculating Brocade's core profitability and measuring the success of its operations. He said Reyes knew Brocade's financial reports and board meeting records were incorrect but signed them anyway and that he also lied to auditors about the company's options practices.

In May, Brocade and Mercury Interactive LLC, now owned by Hewlett-Packard Co., became the first two companies to pay fines to settle allegations by the Securities and Exchange Commission of civil fraud accompanying backdating.

Brocade agreed to pay $7 million, and Mercury agreed to pay $28 million.

SAN FRANCISCO (Reuters) - Prospects for criminal prosecutions of scores of options-backdating cases rest heavily on the outcome of a jury trial in which the judge has already questioned the strength of the government’s evidence.

The guilty verdict on all counts is an important validation of the Justice Department's options backdating probe, which has so far led to criminal charges against at least 10 executives.

Reyes was seen as an important test of whether a jury considers it a crime deserving of jail time.

The office’s former director, Kevin Ryan, was among federal prosecutors ousted last year in a Justice Department shake-up that has prompted a U.

As previously reported on this blog, Brocade Communications Systems, Inc.

PK former CEO, Jacob “Kobi” Alexander, is in Namibia fighting extradition to the United States to face charges that he and others backdated millions of stock options for themselves and other employees when the shares were trading at lows. “What evidence is there that he actually understood the accounting implications of the backdating of the stock? “It is an area that is relatively new in terms of the charges out there,” conceded Michael Garcia, the U. Attorney for the Southern District of New York, in a July 25 Reuters interview.

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