SEC Seeks Quick Win In Fraud Case Against Mercury Execs

Law360, New York (January 4, 2013, 7:55 PM EST) -- The U.S. Securities and Exchange Commission asked a California federal judge Thursday for summary judgment against three former Mercury Interactive LLC executives in its case seeking to pin a fraudulent $258 million stock-backdating scheme on the executives.

The SEC urged U.S. District Judge William Alsup to find former Mercury CEO Amnon Landan, Chief Financial Officer Douglas Smith and general counsel Susan Skaer liable for securities law and Sarbanes-Oxley Act violations in the backdating scheme, which resulted in the company's failure to record and report more than...
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