Mercury interactive backdating
The Commission previously filed settled charges against Mercury and three former outside directors of Mercury.On May 31, 2007, the Commission filed civil fraud charges against Mercury based on the stock option backdating scheme and other fraudulent conduct noted above.The settlement is currently being distributed to Authorized Claimants. became the latest business software maker to join in Silicon Valley's deal-making blitz, announcing Tuesday that it would buy Kintana Inc. The Sunnyvale, Calif.-based firms both specialize in helping businesses make sense of all the software, computers and Internet gear they bought during the 1990s.Labaton Sucharow and Hewlett-Packard's counsel executed a Stipulation of Settlement and the Court granted preliminary approval of the settlement on June 2, 2008.On September 25, 2008, the Court granted final approval of the settlement.As part of the settlement, and following the entry of the proposed final judgment, Skaer, without admitting or denying the Commission's findings, has consented to the entry of a Commission order, pursuant to Rule 102(e)(3) of the Commission's Rules of Practice, suspending her from appearing or practicing before the Commission as an attorney.
Mercury Interactive Corp., which makes software to test computer programs, said three of its top executives resigned after a company investigation found that they had manipulated the value of stock options for six years. Chief Executive Amnon Landan, Chief Financial Officer Douglas Smith and General Counsel Susan Skaer resigned, effective immediately, Mountain View, Calif.-based Mercury said in a statement Wednesday. Mercury's revenue last year grew 11% to 0 million, for a .2-million profit.
illegally backdated 4 million in stock options, investors suing the company claim.