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Judge Tosses Derivative Suit Against Mercury

Law360 (May 31, 2007, 12:00 AM EDT) -- Mercury Interactive LLC's stock options backdating saga may finally be over. The software maker has reached a $28 million settlement with federal regulators, and a district court has dismissed a consolidated derivative suit against the company.

The settlement, made public on Thursday, brings an end to a U.S. Securities and Exchange Commission suit against Mercury, although the SEC's suit against four former Mercury executives is still pending.

“The $28 million corporate penalty in this case, together with a permanent injunction, should send a clear signal that...
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