$117.5M Mercury Backdating Deal Inches Forward

Law360, New York (May 31, 2008, 12:00 AM EDT) -- A federal judge has given preliminary approval to a $117.5 million settlement that will lay to rest a securities class action that alleged software provider Mercury Interactive Corp. and its officers engaged in illegal stock options backdating.

Judge Jeremy Fogel of the U.S. District Court for the Northern District of California signed off Monday on an order preliminarily approving the deal, which was brokered in October.

“This is a very significant day,” Judge Fogel said at a hearing in San Jose, Calif. “My only remaining question...
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