The SEC named former Mercury Interactive general counsel Susan Skaer as a key wrongdoer in a wide-ranging lawsuit Thursday stemming from stock-option backdating. In addition to accusing Skaer of helping the company backdate and improperly account for millions of dollars worth of options from 1997 through April 2002, the SEC singled her out for allegedly falsifying board of director approval of some grants. This charge could suggest future criminal liability, according to one white-collar crime expert.
SEC Says Former Mercury GC Falsified Records
June 1, 2007