Ex-Mercury Attorney Settles SEC Backdating Case for $853,037Karen Gullo
Susan Skaer, former general counsel for Mercury Interactive LLC, settled a U.S. Securities and Exchange Commission lawsuit over stock-option backdating for $853,037, according to a court filing.
Skaer didn’t admit or deny wrongdoing, according to an agreement she signed March 5 that was filed today in federal court in San Francisco. She was ordered to disgorge $628,037 in profit and interest, pay a $225,000 fine and refrain from breaking securities laws.
The SEC sued Skaer and other former executives at Hewlett-Packard Co.’s Mercury Interactive unit in 2007, alleging they participated in a scheme to backdate employee stock options without accounting for the resulting compensation expenses. The other executives already settled with the SEC.
The final judgment in the case is subject to a judge’s approval.
The case is Securities and Exchange Commission v. Mercury Interactive LLC, 07-02822, U.S. District Court, Northern District of California (San Francisco).