Defense Atty Neal- is still on cross with CFO of Brocade. He is following a line of questioning to establish if the Stock Option Expenses were properly reported in the 10K and 8K under different sections.
Neal also asked the Witness if the Restated Financials were certified by KPMG- Yes.
Seems Stock Option Expenses under FAS 123 were more properly reported in the 10K and that AP25 actually does not do as good a job in telling the “street” and investors as to the operating performance of the company.
I have to ask again…where was the investing public misled? Seems the numbers were in plain site.
I’ll guess I’ll wait to see what the Govt has to say.
Cross…Continues…
Defense Atty Neal- talking about UWC- Unanimous Written Consent.
Process Improvement Project- Exhibit 6610- is one of the products that came out of the “working group”.
Blank Form- of UWC.was in lieu in actual meeting.
No language that a meeting was help or had to be help…so in the Govt Opening Statement they referenced that Reyes signed false documents for meetings that never happened.
Hmmmmm….now talking about Exhibit 6612. An actual UWC for Stock Option Grants. Approved by Finance.
