Tech CEOs get twitchy over Brocade verdict

A LOT OF tech CEOs will be going through what Sir Alex Ferguson famously refers to as “squeaky bum time” now that the jury has been asked to convene in judgement on Gregory Reyes, the former boss of switch maker Brocade.

According to the prosecution, Reyes knowingly falsified stock option grant dates to reward key hires. The verdict could set the tone for other stock options backdating probes: allegations of malpractice have been as common as fine wine, warm weather and admirable orthodontics in Silicon Valley this past year.

The scandals have split watchers down the middle between those who believe that the practices were acceptable and those that say they broke basic accounting practices. µ