Feeds

Ex-Brocade pair plead not guilty

Stock options test trial is go

Security for virtualized datacentres

Former Brocade CEO Greg Reyes and his former human resources VP Stephanie Jensen pleaded not guilty to mail and securities fraud charges in San Francisco federal court yesterday.

The trial will now become a test case for the SEC's wide-reaching investigation into stock option backdating, which has swept through Silicon Valley.

The former Brocade pair are accused of manipulating executive stock option records to make it appear they were granted at an earlier date to give a bigger return. While not itself illegal at the time, authorities allege the backdating was not reported properly, misleading the market and causing the storage switch maker to restate its 1999 to 2004 financials.

At an earlier dismissal hearing, Reyes' lawyer said his client had not intended to mislead investors, but attract employees.

Reyes is out on $2m bail, with Jensen bonded at $500,000. A trial date was not set.

Reyes was the first big name to be indicted by by financial investigators. Similar allegations against former Comverse chief Kobi Alexander have not yet been aired in court, as the turned fugitive earlier this month. He was quickly caught in Sri Lanka after making a Skype call. ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.