Greg Reyes and Brocade may settle claims through binding arbitration

greg-reyes-mugGreg Reyes, the former chief executive of Brocade Communications who was convicted of stock-option manipulation in 2007, may settle company claims that he breached his fiduciary duties to the company and unjustly enriched himself, reported Bloomber News late Monday, citing a filing today in federal court in San Francisco.

Attorneys for Reyes and Brocade said the two sides have been “working towards an agreement to resolve through binding arbitration, according to Bloomberg.

 

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  • Reyes’ backdating did not “enrich himself”. He did not personally benefit from it at all!

  • Options backdating is a common business practice of granting an employee stock option that is retroactively dated to increase its value. hundreds of companies do it and is not a crime, the greg reyes brocade scandal was totally unfair

  • Options backdating is a common business practice of granting an employee stock option that is retroactively dated to increase its value. hundreds of companies do it and is not a crime, the
    greg reyes brocade scandal was totally unfair

 
 
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