Mercury Pays $117.5M To Silence Backdating Suit

Law360, New York (October 15, 2007, 12:00 AM EDT) -- Mercury Interactive Corp. has agreed to shell out $117.5 million to investors to put to rest a securities class action filed in the wake of allegations that the software provider and its officers engaged in illegal backdating of stock options.

On Monday, plaintiffs firm Labaton Sucharow LLP announced the multimillion-dollar settlement fashioned on behalf of its investor clients, dubbed the Mercury Fund Pension Group for case purposes.

"We are satisfied that the parties have come to such a fair settlement and are confident that the award...
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