Judge: Janus Does Not Require Dismissal Of Federal Securities Law Claims

SAN FRANCISCO - Dismissal of the Securities and Exchange Commission's second amended complaint against the former general counsel of Mercury Interactive LLC for alleged violations of federal securities laws for her role in a stock options backdating scheme is not proper under the U.S. Supreme Court's ruling in Janus Capital Group, Inc. v. First Derivative Traders because the Supreme Court did not discuss the statutes at issue in the instant action, a federal judge in California ruled Nov. 22 (Securities and Exchange Commission v. Mercury Interactive, LLC, et al., No. C 07-2822, N.D. Calif.; See October 2009, Page 40). Full story on lexis.com