The company's two investigations largely exonerated him from the backdating scandal. The OTS was implicated in a backdating scandal regarding the balance sheet of IndyMac. In 2006, Comverse was involved in an options backdating scandal. In 2006, Comverse Technology was involved in an options backdating scandal. One of the larger backdating scandals occurred at Brocade Communications, a data storage company. Some evidence of backdating trades, instituted by Picower, was presented by trustee Irving Picard. Mr. Reich called the backdating irregularity "a relatively small factor" in the collapse of IndyMac. Another public perception is that options backdating stems from executive corruption. In the mid-aughts, the backdating of stock options was looked into by federal regulators. Cases of backdating employee stock options have drawn public and media attention. Investigators reported that similar officially approved backdating occurred at four other institutions. The Act included a provision to prohibit the backdating of a lease. The backdating was approved by the board of directors, according to the "Journal". This all but eliminated the opportunity for senior management to engage any meaningful options backdating. No 1970 Chargers were used, as backdating them proved to be too time-consuming.