Gregory Reyes, former chief executive of Brocade Communications, was convicted on all 10 counts of securities fraud, conspiracy and making false statements in the first stock options backdating case that has gone to trial.
The verdict came after a five-week trial in which jurors heard testimony about Reyes' involvement in changing the dates of stock options to benefit employees. He faces a possible 20-year prison term and up to a $5 million fine when he is sentenced on November 21. The jury deliberated for five-and-a-half days before convicting the former executive.
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