Ex-Mercury CFO To Pay $2.7M In Backdating Case

Law360, New York (March 23, 2009, 12:00 AM EDT) -- The former chief financial officer of Mercury Interactive LLC has agreed to hand over more than $2.7 million to settle charges by the U.S. Securities and Exchange Commission that she orchestrated a scam to backdate stock option grants for herself and other top employees.

Sharlene Abrams, the California-based software maker's ex-CFO, will pay $2.29 million in disgorgement of ill-gotten profits and a civil penalty of $425,000 to put the commission's complaint to rest, the SEC said Friday.

The settlement, which is subject to approval by the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.