SEC Tightens Up Backdating Claims V. Mercury Execs

Law360, New York (October 16, 2009, 5:30 PM EDT) -- The U.S. Securities and Exchange Commission has amended its options backdating suit against three former executives of Mercury Interactive LLC following a judge's ruling that many of the agency’s claims were too vague, including all fraud allegations against the software company’s ex-general counsel.

The SEC filed its amended complaint against Mercury’s former CEO Amnon Landan, former Chief Financial Officer Douglas Smith and attorney Susan Skaer in the U.S. District Court for the Northern District of California on Thursday.

Judge Jeremy Fogel pared down the SEC’s murkier...
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