As we wait for Judge Breyer to return from his conference it seems like this case has a lot of holes in it from the Govt’s end.
1. No witness has been able to testify that Greg Reyes told them to do anything.
2. If I recall the Govt’s opening statement they claimed they would be able to show Reyes hid the backdating from the Finance Dept and in turn signed Fraudulent 10k’s as far as we can tell everyone at the firm not only knew but also received backdated options (which is not a crime from our research).
3. Finance did take a COMP CHARGE for the options under FAS 123 but not APB25, which based on the testimony we heard is very complicated and open to interpretation.
4. APB25 was such a mess FASB eliminated it. So we are trying a man for a standard that does not even exist….seems like a waste.
5. As far as the conspiracy no one ha stood up and said Greg told them to do anything. Guilty by hearsay? Wow. Not god.
I’m sure the Jury has seen through all of the contrived testimony…
It’s all back on Monday -3/22/10.
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