Backdating Probe Expands To Directors

Law360, New York (July 5, 2006, 12:00 AM EDT) -- The Securities and Exchange Commission will likely pursue civil charges against at least three directors of Mercury Interactive Corp., one of the first companies caught in the ever-growing web of improper stock options grants.

The announcement came as Mercury restated its financial records from the past few years. Overall, the business software company reported an income decrease of $566.7 million related to 54 cases of options backdating from 1994 to 2005.

Mercury now plans on restating its financial earnings for 2005, though CEO Tony Zingale said...
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