Sec settles mercury backdating brocade

Bertini agreed to a judgment that permanently enjoins him from future violations of the Exchange Act and orders him to pay over ,000 in disgorgement, prejudgment interest, and penalties.

Bertini has also been barred from "serving as an officer and director of a public company for a period of five years." SEC Charges Rengan Rajaratnam with Insider Trading, March 22, 2013, (Litigation Release No.

Additionally, the SEC seeks to "permanently prohibit Riley from serving as an officer or director of a public company." In a separate action, criminal charges have been announced against Teeple, Riley, and Johnson.

One area where she thought we were less than competitive was our stock option granting process.

I’m not sure why Horowitz bothered to change the name of the CFO. Sharlene Abrams was CFO of Opsware and her previous employer was Mercury Interactive. Abrams was barred from serving as an officer or a director of a public company. was planning an enforcement action against her in connection to her previous employment at Mercury Interactive, an enterprise software company.

The New York Times Dealbook’s William Alden picks up on Horowitz’s hero story and gives us more details. She later pleaded guilty to tax evasion after a Justice Department inquiry into the stock options scheme. Abrams, the chief financial officer of Opsware at that time, was forced to resign in 2006 after it emerged that the S. No one talks about stock options backdating much anymore.

She reported that her previous company’s practice of setting the stock option price at the low during the month it was granted yielded a far more favorable result for employees than ours. Abrams and three other former officers committed fraud by backdating stock option grants and failing to record hundreds of millions of dollars of compensation expenses.

She also said that since it had been designed by the company’s outside legal counsel and approved by their auditors, it was fully compliant with the law. As part of a settlement with the agency in 2009, Ms.