Judge rejects backdating case against former Broadcom executives
Judge Cormac Carney dismissed all the charges against two defendants in the Broadcom backdating case due to “shameful prosecutorial misconduct and a lack of evidence”. Chief Financial Officer William Ruehle, as well as CEO Henry Nicholas III, were acquitted of charges.
Evidence in the securities case provided that prosecutors tried to influence the testimony of [...]
Trial Witness Said to Cast Doubt on Part of Testimony
Another flaw has been discovered in the stock options backdating trial of Brocade CEO Gregory Reyes. Elizabeth Moore, a Brocade employee and principal witness in the case disclosed to associates and friends that her testimony may have been untrue. Moore, who had originally testified that Reyes had deceived Brocade, has now retracted her testimony.
In an [...]
Brocade witness “recants”; Reyes seeks new trial
Former CEO of Brocade, Greg Reyes, seeks a new trial when a prosecution witness allegedly recanted some of her testimony. Reyes was convicted for securities fraud, in relation to options backdating. The witness responsible for this is Elizabeth Moore, from Brocade’s finance department.
Moore apparently sent an email to Reye’s house manager stating that one of [...]
Rethinking the Corporate Crime Spree
By Holman W. Jenkins
One of the pleasures of government is the opportunity occasionally to do justice. Team Obama has two such opportunities before it.
Yesterday, a federal appeals court overturned the landmark backdating conviction of former Brocade CEO Greg Reyes on grounds of prosecutorial misconduct. His case has been remanded for retrial, but this was a [...]
9th Circuit Tosses Conviction of Brocade Ex-CEO, Cites Prosecutor Misconduct
From the American Bar Association
A federal appeals court has overturned the backdating conviction of the former CEO of Brocade Communications, saying the trial of Gregory Reyes was tainted by a prosecutor’s untrue statement to the jury.
The San Francisco-based 9th U.S. Circuit Court of Appeals ruled today, tossing Reyes’ 21-month sentence for backdating stock options and [...]
