Former Mercury Interactive Corp. general counsel Susan Skaer is set to pay $850,000 to settle civil charges that she participated in the improper backdating of stock options..
If approved, the settlement will close a six-year-old case against Skaer, one of the first Silicon Valley in-house counsel caught up in the backdating scandal. In May 2007 the Securities and Exchange Commission filed a complaint against Skaer and three other senior executives at Mercury alleging they had orchestrated 45 option grants between 1997 and 2002 and hid associated compensation expenses of $258 million. Skaer was the last defendant to settle. She had been scheduled to go to trial before U.S. District Judge William Alsup in San Francisco this past Monday.
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