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Corporate

Aug. 21, 2007

SEC Charges Add Twist to Brocade Case

SAN JOSE - Michael Byrd, the former chief financial officer at Brocade Communications Systems Inc., was charged with civil fraud by the Securities and Exchange Commission for looking the other way while other company executives backdated stock-options grants and failed to account for them properly, including the former chief executive officer convicted two weeks ago of criminal fraud.

By Craig Anderson
Daily Journal Staff Writer

      SAN JOSE - Michael Byrd, the former chief financial officer at Brocade Communications Systems Inc., was charged with civil fraud by the Securities and Exchange Commission for looking the other way while other company executives backdated stock-options grants and failed to account for them properly, including the former chief executive officer convicted two weeks ago of crimin...

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