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While neither admitting nor denying the agency’s claims that Jensen and Canova were complicit in the massive backdating scheme at...SAN FRANCISCO (Market Watch) -- Greg Reyes, the first chief executive to be convicted of securities fraud in connection with stock options backdating will be sentenced in federal court Wednesday and I don't think he should go to jail.In late November, the judge presiding over the case reduced the possible range of his sentence to 15 to 21 months.Prosecutors had been seeking a sentence of 10 years.When a practice was so widespread, why send one former CEO to jail as a deterrent to warn others against a practice that Sarbanes-Oxley has since nipped in the bud?During the tech boom in Silicon Valley, backdating or looking backwards and picking an opportune date to price stock options was done frequently as a way to hire hot-shot salespeople or engineers and as a way to keep employees from sniping about who got the best strike prices.

'” Some investors have applauded Brocade’s bold move this summer to acquire arch-rival Mc Data for 3 million in stock.But over the past five months, Brocade has seen its stock rebound and surge nearly 66 percent, closing Friday at .62.Investors seem to be shrugging off the worries about any residuals from the backdating scandal that swept through Silicon Valley this year.Klayko said he feels backdating is behind the company now. “But obviously, having any open case with any three-letter organization in government is not something you want to have. I’d like to get this chapter behind us,” Klayko said.

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