Included In This Issue:
- Former Brocade CEO Gregory Reyes guilty of securities fraud relating to stock options backdating
- The case was the first to test the defenses of “lack of criminal intent” and “immateriality”
- Judges and juries clearly think stock option accounting matters to investors, regardless of how arcane it may appear
Foley Hoag's Business Crimes Perspectives is a regular publication exploring trends and emerging issues in the areas of business crimes, fraud and government investigations. Lawyers in Foley Hoag’s Business Crimes practice represent corporations, officers, directors, and other individuals in criminal, administrative, regulatory and civil proceedings. If you find this update useful, please encourage your colleagues and contacts to also register with us at www.foleyhoag.com.