Bankdating leads to conviction

NY Times:

"Jurors in Federal District Court in San Francisco convicted the former chief executive of Brocade Communications Systems, Gregory L. Reyes, 44, on 10 counts of conspiracy and fraud.The verdict ended a five-week trial in which Mr. Reyes was accused of intentionally changing the grant dates for hundreds of stock option awards without disclosing the move to investors."

As a Met's fan, the headline petrified me (Reyes Convicted). As I dove into the article, I was at least relieved that it was not this Reyes (and even a bit vindicated as I have been arguing for months that backdating was a big deal (if for no other reason it provides another look into the firm and its governance) and seemingly few others agreed.). Obviously expect more prosecution after this.