Brocade’s Reyes denied new trial
From Times Staff and Wire Reports
A federal judge denied a new trial for former Brocade Communications Systems Inc. Chief Executive Gregory Reyes, the first top executive convicted of backdating stock options.
District Court Judge Charles Breyer rejected arguments that a government witness recanting her testimony amounted to new evidence.
Reyes was convicted in August of 10 charges of conspiracy, fraud, making false filings and falsifying records for backdating grants and hiding the practice from auditors and investors, inflating Brocade’s revenue.
