Former Brocade HR Chief Sentenced

SAN FRANCISCO (AP) -- The former human resources chief of Brocade Communications Systems Inc. has been sentenced to 4 months in prison for her role in a stock options backdating scheme.

Stephanie Jensen also was ordered to pay a $1.25 million fine.

Jensen was convicted at trial in December of conspiracy and falsifying corporate records.

She and former Brocade CEO Gregory Reyes were the first executives to go on trial over backdating. Their cases went before separate juries in Northern California last year.

Reyes was convicted on 10 counts of securities fraud and sentenced to 21 months in prison and fined $15 million.

The backdating scandal erupted in 2006 on revelations that companies nationwide were manipulating options awards to employees and not accounting properly for the practice.

© 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.

631 SW Commerce Pl. Topeka, Kansas 66615 phone: 785-272-6397 fax: 785-272-1363 email:
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 16818326 -
Gray Television, Inc.