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Ex-GC forks out $850k to settle SEC case
The former general counsel of Californian software company Mercury Interactive has agreed to pay $850,000 to settle accusations that she helped backdate stock options.
Cupertino: Mercury Interactive's HQ
The ABA Journal reports that Susan Skaer did not admit or deny the allegations in the Securities and Exchange Commission complaint.
Under the settlement, Ms Skaer will pay $628,037 in disgorgement and prejudgment interest, representing her alleged ‘in-the-money’ benefit from her exercise of backdated option grants, and a $225,000 civil penalty, according to reports.
Ms Skaer is now a real estate agent in Palo Alto.
