SiliconBeat

Greg 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.