Sec settles mercury backdating brocade

July 26, 2007 (Associated Press) WASHINGTON - Computer chip supplier KLA-Tencor Corp.

on Wednesday became the third company to settle federal allegations of improper backdating of stock options, after being accused by regulators of concealing more than 0 million in compensation to executives and employees.

For those of us out here watching with popcorn, it’s fun to think about how different things might have been if Cisco did buy Brocade back then.

Today, Cisco would likely be selling Brocade switches as its midrange platform and Mc Data would probably still be foundering on its own.

- The executives selected false grant dates for options that allowed exercise prices to correspond to low points in the closing price of the company’s stock.

In one instance, Landan under-reported million in gains for exercising three options awards.


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