Stock options backdating issue

Reyes began working full-time position at Convergent while taking evening classes in order to complete his degree.After obtaining his degree, Reyes became an OEM sales representative for Convergent, then left to become Vice President of Sales and Support at Banyan Systems, a networking and data communications software firm.

In the trial, Reyes stated that he had no intent to deceive anyone, and that his decisions relied largely in good faith on the accuracy of documentation provided by Brocade's finance department, which incorrectly accounted for stock options in Brocade's financial statements that he signed in good faith and with the belief that they had been properly accounted for.until the company implemented massive layoffs in response to the burst of the dot-com bubble.Reyes resigned from Brocade when he was indicted by the U. government for accounting irregularities associated with corporate stock options backdating.Elizabeth Moore, a key witness to Reyes's conviction and the only employee of Brocade's finance department to be called during the proceedings, testified that neither she nor any other members of the finance department had any knowledge of backdating or fraudulent occurrences within the organization.After the trial's conclusion, however, Moore recanted her testimony, claiming that she had been bullied and pressured by the prosecution to give false testimony.

Search for stock options backdating issue:

stock options backdating issue-36

Leave a Reply

Your email address will not be published. Required fields are marked *

One thought on “stock options backdating issue”