Sec settles mercury backdating brocade Adult role play chat rooms

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The SEC has been investigating more than 100 public companies, many of them in Silicon Valley, over suspect timing of stock option awards to executives.

In May, the SEC signed settlements with two other technology companies, Brocade Communications Systems Inc.

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“Susan had no responsibility for accounting at Mercury, and had no idea that the company operated in violation of any accounting rules,” Haag said in an e-mailed statement.The agency said Landan and Abrams created a “secret backlog” of revenue that could be booked whenever needed to smooth out Mercury’s earnings.The revenue was accumulated by directing employees to not ship ordered products toward the end of a quarter once financial targets were made, it said.The agency alleged that Brocade’s former boss, Gregory Reyes, routinely boosted employees’ compensation by granting valuable in-the-money stock options for which financial statement expenses were required.The SEC alleged that former executives of the San Jose, California, company had concealed the fact that the options had been granted in-the-money — or below the prices at which the stock was selling at the time — by creating false records.

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