/top_stories/article/29420
/top_stories/article/29420

/top_stories/article/29420


From: Reuters
Published January 16, 2008 01:12 PM

Brocade ex-CEO fined $15 million in options case

/top_stories/article/29420

SAN FRANCISCO (Reuters) - Brocade Communications Systems Inc's <BRCD.O> former chief executive Gregory Reyes was fined $15 million on Wednesday for backdating stock option grants.

U.S. District Court Judge Charles Breyer said at a sentencing hearing that Reyes obstructed justice in preparing for trial.

A jury in August found Reyes guilty on all counts in the government's first criminal trial of stock options backdating.

(Reporting by Nichola Groom)

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