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Ex-Brocade CEO Found Guilty in Backdating Trial

Gregory Reyes is guilty on all 10 counts.
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SAN FRANCISCO - A federal jury has found former

Brocade Communications

(BRCD)

CEO Gregory Reyes guilty on all 10 counts in the first criminal options backdating trial, according to media reports.

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Legal experts had speculated as to whether Reyes would escape conviction, since he didn't personally profit from any changes in option dates and the trial judge had questioned the prosecution's evidence.

Despite the jury's verdict, the judge still has the option to set aside the conviction.

Shares of Brocade were recently down nearly 3% to $6.36.