Defendant Name: Mercury Interactive, LLC

Defendant Type: Subsidiary of Public Company

Document Reference: LR-20964

Document Details

Legal Case Name SEC v. Mercury Interactive, LLC (f/k/a Mercury Interactive, Inc.), Amnon Landan, Sharlene Abrams, Douglas Smith and Susan Skaer
Document Name Sharlene Abrams, Former Chief Financial Officer of Mercury Interactive, LLC, to be Permanently Enjoined and to Pay Civil Penalties and Disgorgement for Stock Option Backdating and Other Fraudulent Conduct; Abrams Also to be Barred from Serving as an Officer and Director of a Public Company
Document Date 20-Mar-2009
Document Format Civil Proceeding
Case Number 07-cv-02822
Federal District Court California, Northern District of California
AAER 2953
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission stated that: "[It] settled civil fraud charges against Sharlene Abrams, a former Chief Financial Officer of Mercury Interactive, LLC, arising from an alleged scheme to backdate stock option grants and from other alleged misconduct . . . The Commission previously filed settled charges in this matter against Mercury and three former outside directors of Mercury."

Disgorgement & Penalty Information

Resolutions
Enjoinment
Monetary Penalties:

Civil Penalty

Individual:     $28,000,000.00 Shared:    

Related Documents:

court_doc1_07-cv-02822 31-May-2007 Complaint
Complaint
The Commission stated: "During the period from at least 1997 through 2005, Mercury Interactive, Inc. ("Mercury" or the "company"), through its most senior officers and others, engaged in a fraudulent and deceptive scheme to provide executives and other employees undisclosed, secret compensation. Through the scheme, and without disclosure, Mercury's senior management, Chief Executive Officer Amnon Landan ("Landan") and at various times Chief Financial Officers Sharelene Abrams ("Abrams"), Douglas Smith ("Smith"), and General Counsel Susan Skaer ("Skaer"), backdated the date on which stock options were granted to executives and employees so that those options appeared to have been granted at times corresponding to low points of the closing price of the company's stock, resulting in artificially and fraudulently low exercise prices for those options."
LR-20136 31-May-2007 Litigation Release
SEC Settles With Mercury Interactive and Sues Former Mercury Officers for Stock Option Backdating and Other Fraudulent Conduct
On May 31, 2007, the SEC stated that: "[It] filed civil fraud charges in federal district court for the Northern District of California against California-based software maker Mercury Interactive, LLC (formerly known as Mercury Interactive Corporation) and four former senior officers of Mercury -- former Chairman and Chief Executive Officer Amnon Landan, former Chief Financial Officers Sharlene Abrams and Douglas Smith, and former General Counsel Susan Skaer."
court_doc27_07-cv-02822 12-Jul-2007 Court Docket Document
Final Judgement as to Defendant Mercury Interactive, LLC
The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant Mercury Interactive, LLC ("Defendant"), having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgement without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgement."

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