Sonsini's role in Silicon Valley's option scandal (NYT continued)
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| (NYT: Linda Sue Scott) |
Greg Reyes, the chief executive of Brocade Communications Systems, and one of the first executives to be charged in the scandal, noted earlier this year that Mr. Sonsini advised the company on its stock options policies, the story reports.
In February, Mr. Reyes told BusinessWeek that Mr. Sonsini encouraged him in 1999 to assume sole authority to award Brocade options through the creation of a so-called committee-of-one...
The story also gives comments from Sonsini and quotes liberally from his supporters.
http://www.siliconbeat.com/cgi-bin/mt331/mt-tb.cgi/1753
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During the HP-Compaq merger battle, Sonsini allegedly gave Walter Hewlett legal advice that as a member of the board, he was obligated to vote for the merger, but he could vote his shares against the deal later. Hewlett smelled something rotten, got his own lawyer and started his prixy fight. If this allegation is true (and I find it highly plausible), Larry Sonsini plumbs new ethical depths, even for a lawyer.
http://www.businessweek.com/magazine/content/01_53/b3764039.htm
Fazal Majid on August 1, 2006 7:11 PMComment link
