Greg Reyes Exonerated On Options Backdating. Why That's A Good Thing.
I’ve covered Greg Reyes’ legal woes around options backdating from the very start—from the time word was just starting to zip around Silicon Valley that the Justice Department was looking for a “poster child” to prosecute for improper accounting of this form of compensation. I saw the once-swaggering Reyes go from being terrified (not to mention ostracized overnight in clubby tech circles) in those early months, to furious at what he felt was a politically-motivated crusade by the Bush Administration’s DOJ to appear tough on corporate crime (he’d point to the Bushies’ need to distance themselves from its close ties to former Enron chief Key Lay), to utterly despairing as it became clear he was going to lose the case. But through it all, I was struck by his insistence that he was innocent and would be exonerated.
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