Ebay’s stocks rose this week and were seen to be higher than that of its fourth quarter report. However, after Chief Exec – Meg Whitman – announced that she would be stepping down the stocks were seen to slow down.
Things looked bleak for Brocade Communications System Inc. when their former chief executive - Gregory Reyes - was sentenced to 21 months in prison and a fine of $15 million after he set up a plan to tamper with the financial records of the stock options that were offered by the company. At the sentencing hearing, U.S. District Judge Charles Breyer said Reyes obstructed justice in preparing for trial. Reyes broke down crying while speaking to the judge before his sentence was handed down. He was released on his own recognizance until a federal appellate court can hear the case.