U.S. SEC files fraud charges against ex-Brocade officer
WASHINGTON, Aug. 17 (Xinhua) -- The Securities and Exchange Commission on Friday filed fraud charges against a former Brocade Communications Systems Inc. executive.
The U.S. federal regulators alleged Michael J. Byrd, a former chief financial officer and chief operating officer, that he disregarded indications that other senior corporate executives were improperly backdating stock option grants at the company.
Byrd, of Saratoga, Calif., is the fourth former Brocade executive to be charged. Last year, the SEC charged former Chief Executive Gregory Reyes; former Chief Financial Officer Antonio Canova, and former human-resources executive Stephanie Jensen for backdating, according to a report carried by The Wall Street Journal.
Earlier this month, Reyes was convicted on 10 counts including fraud, falsified accounting, conspiracy and filing false statements, the report said.
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