Tuesday, August 7, 2007

Brocade and Backdating

After a quiet summer, the backdating scandal appears to be ready to re-emerge front and center in the business community; Brocade's former CEO Gregory Reyes was apparently found guilty of 10 counts of backdating and related securities infractions today. As the markets have slowed (perhaps signaling a finale to the private equity/debt bubble), the last vestiges of the previous bubble (the tech one that popped in 2000-01) are being litigated.

Apple's Steve Jobs remains the highest-profile CEO to be implicated in the backdating scandal, although no SEC charges have been brought against him.

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