Mercury Interactive Corporation - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Mercury Interactive Corporation Summary: According to a news article released June 2, 2008, preliminary approval to a $117.5 million settlement has been granted. Mercury first agreed to the multimillion-dollar settlement with its investor clients — the Mercury Pension Fund Group — last October. At the time, it was one of the largest such deals in any stock options backdating case.

On August 27, 2007, a Stipulation and Order was filed extending the filing of the Amended Complaint to September 26, 2007.

According to a press release dated August 2, 2007, the latest ruling came Monday, when San Jose federal judge Jeremy Fogel dismissed with leave to amend a securities class action against former managers and the company — now owned by Hewlett-Packard — as overly broad. Fogel had already dismissed federal shareholder derivative claims against the company. Among the problems Fogel found with the securities complaint was that plaintiffs had inadequately argued that the defendants acted knowingly or with deliberate recklessness. Fogel also found plaintiffs hadn't stated a specific enough amount of loss that shareholders had suffered as a result of share-price drops. … Plaintiffs have 30 days to file their amended complaint.

On November 17, 2006, the defendants filed several motions to dismiss the Plaintiffs' Consolidated Class Action Complaint. The motions are currently pending before the court.

As summarized by the Company’s FORM 10-K for the fiscal year ended December 31, 2005, beginning on or about August 19, 2005, several securities class action complaints were filed against us and certain of our current and former officers and directors, on behalf of purchasers of our stock from October 2003 to November 2005. These class action lawsuits are consolidated in the U.S. District Court for the Northern District of California as In re Mercury Interactive Corporation Securities Litigation, Case No. C05-3395. The original actions were Archdiocese of Milwaukee Supporting Fund, Inc. v. Mercury Interactive, et al (Case No. C05-3395), Johnson v. Mercury Interactive, et al. (Case No. 05-3864), Munao v. Mercury Interactive, et al. (Case No. C05-4031), and Public Employees’ Retirement System of Mississippi v. Mercury Interactive, et al. (Case No. 05-5157). On May 5, 2006, the Court appointed the Mercury Pension Fund Group, represented by Labaton Sucharow & Rudoff LLP and Glancy Binkow & Goldberg LLP, as lead plaintiff and counsel. The Lead Plaintiffs filed a Consolidated Complaint on September 8, 2006. The Consolidated Complaint alleges, among other things, violations of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, based on allegations that we and the individual defendants and our auditors made false or misleading public statements regarding our business and operations during the putative class period of October 17, 2000 to November 1, 2005, and seeks unspecified monetary damages and other relief against the defendants. At this time, we have not recorded any liabilities as we are unable to estimate the potential liabilities.

The original complaint alleges that as late as April 28, 2005, Defendants increased their previous 2005 annual guidance, serving to affirm prior statements that the company was continuing in a positive direction. Unbeknownst to investors, it is alleged that Defendants concealed auditing expenses during the class period.

The case was brought on behalf of all shareholders who purchased or acquired MercInteractive securities during the class period. This case is also brought on behalf of those purchasing notes convertible to shares of Company stock, pursuant to the Company's 0 Coupon Senior Convertible Notes (due 2008 offering).

INDUSTRY CLASSIFICATION:
SIC Code: 7372
Sector: Technology
Industry: Software & Programming

COMPANY/ISSUER NAME:	Mercury Interactive Corporation
COMPANY/ISSUER TICKER:	MERQE
COMPANY WEBSITE:	http://www.mercury.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Archdiocese of Milwaukee Supporting Fund, Inc., et al. v. Mercury Interactive Corp., et al.

COURT: N.D. California	DOCKET NUMBER: 05-CV-03395
JUDGE NAME: Hon. Jeremy Fogel
DATE FILED: 8/19/2005	SOURCE: Notice of Filing
CLASS PERIOD START: 10/22/2003	CLASS PERIOD END: 7/5/2005
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy and Binkow 1801 Avenue of the Stars, suite 311, Los Angeles, CA, 90067 (voice) 310-201-9150, (fax) , info@glancylaw.com Glancy Binkow & Goldberg LLP (LA) 1801 Ave. of the Stars, Suite 311, Los Angeles, CA, 90067 (voice) (310) 201-915, (fax) (310) 201-916, info@glancylaw.com Goodkind Labaton Rudoff & Sucharow LLP 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0700, (fax) 212.818.0477, info@glrslaw.com Green Welling LLP 595 Market Street, Suite 2750, San Francisco,, CA, 94105 (voice) (415) 477-6700, (fax) (415) 477-6710, gw@classcounsel.com Johnson & Perkinson 1690 Williston Road, South Burlington, VT, 05403 (voice) 802.862.0030, (fax) 802.862.0060, JPLAW@adelphia.net Law Offices of Charles J. Piven, P.A. World Trade Center-Baltimore,401 East Pratt Suite 2525, Baltimore, MD, 21202 (voice) 410.332.0030, (fax) , pivenlaw@erols.com Schiffrin & Barroway LLP 3 Bala Plaza E, Bala Cynwyd, PA, 19004 (voice) 610.667.7706, (fax) 610.667.7056, info@sbclasslaw.com Schubert & Reed LLP Two Embarcadero Center, Suite 1050, San Francisco, CA, 94111 (voice) 415.788.4220, (fax) 415.788.0161, mail@schubert-reed.com Scott & Scott LLC P.O. Box 192, 108 Norwich Avenue, Colchester, CT, 06415 (voice) 860.537.5537, (fax) 860.537.4432, scottlaw@scott-scott.com Wechsler Harwood LLP 488 Madison Avenue 8th Floor, New York, NY, 10022 (voice) 212.935.7400, (fax) , info@whhf.com Wolf Popper, LLP 845 Third Avenue, New York, NY, 10022-6689Ave (voice) 877.370.7703, (fax) 212.486.2093, IRRep@wolfpopper.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 11

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Order Setting Initial Case Management Conference For Securities Class Actions Subject To The Private Securities Litigation Reform Act (PSLRA)
Type: Order		Date on the document: 08/19/2005
Standing Order Regarding Case Management In Civil Cases
Type: Order		Date on the document: 08/19/2005

REFERENCE COMPLAINT

In Re: Mercury Interactive Corporation Securities Litigation

COURT: N.D. California	DOCKET NUMBER: 05-CV-03395
JUDGE NAME: Hon. Jeremy Fogel
DATE FILED: 9/8/2006	SOURCE: Docket
CLASS PERIOD START: 10/17/2000	CLASS PERIOD END: 11/1/2005
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Binkow & Goldberg LLP (SF) 455 Market Street, Suite 1810, San Francisco, CA, 94105 (voice) (415) 972-81, (fax) (415) 972-816, info@glancylaw.com Labaton Sucharow & Rudoff LLP 100 Park Avenue, 12th Floor, New York, NY, 10017 (voice) 212.907.0700 , (fax) 212.818.0477 , info@labaton.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

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DOCUMENTS FOR THE REFERENCE COMPLAINT
[Corrected] Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 08/25/2005
Waiver Of Service Of Summons
Type: Other		Date on the document: 09/28/2005
Declaration Of Christopher Keller In Support Of The Motion Of The Mercury Pension Fund Group For Consolidation Of The Related Actions, Appointment As Lead Plaintiff And Approval Of Proposed Lead Plaintiff's Selection Of Lead Counsel
Type: Declaration		Date on the document: 10/20/2005
Memorandum Of Law In Support Of Motion Of The Mercury Pension Fund Group For Consolidation Of Related Actions, Appointment As Lead Plaintiff And Approval Of Proposed Lead Plaintiff's Selection Of Lead Counsel
Type: Memorandum		Date on the document: 10/20/2005
Notice Of Motion And Motion Of The Mercury Pension Fund Group For Consolidation Of Related Actions, Appointment As Lead Plaintiff And Approval Of Proposed Lead Plaintiff's Selection Of Lead Counsel
Type: Motion		Date on the document: 10/20/2005
Proof Of Service
Type: Other		Date on the document: 10/20/2005
[Proposed] Order Consolidating The Related Actions, Appointing The Mercury Pension Fund Group As Lead Plaintiff And Approving Lead Plaintiff's Selection Of Lead Counsel
Type: Order		Date on the document: 10/20/2005
Proof Of Service
Type: Other		Date on the document: 10/25/2005
Mercury Interactive Corporation’s Motion For Administrative Relief To Consider Whether Cases Should Be Related [Local Rule 3.12]
Type: Motion		Date on the document: 10/26/2005
[Proposed] Order Granting Relationship
Type: Order		Date on the document: 10/26/2005
Related Case Order
Type: Notice		Date on the document: 11/14/2005
Notice Of Non-Opposition To Mercury Pension Fund Group's Motion For Appointment As Lead Plaintiff
Type: Notice		Date on the document: 11/21/2005
Related Case Order
Type: Order		Date on the document: 11/21/2005
Affidavit Of Michael A. Schwartz In Support Of The Public Employees’ Retirement System Of Mississippi’s Motion To Intervene
Type: Other		Date on the document: 11/28/2005
Certificate of Service
Type: Other		Date on the document: 11/28/2005
Mercury Interactive Corporation’s Notice Of Additional Related Cases
Type: Notice		Date on the document: 11/28/2005
[Proposed] Order Granting The Public Employees’ Retirement System Of Mississippi’s Motion To Intervene
Type: Order		Date on the document: 11/28/2005
Public Employees’ Retirement System Of Mississippi’s Memorandum Of Law In Support Of Motion To Intervene
Type: Memorandum		Date on the document: 11/28/2005
Public Employees’ Retirement System Of Mississippi’s Notice Of Motion And Motion To Intervene
Type: Motion		Date on the document: 11/28/2005
Certificate Of Service
Type: Other		Date on the document: 12/05/2005
Declaration Of Renee L. Karalian In Support Of Public Employees' Retirement System Of Mississippi's Motion For Administrative Relief
Type: Declaration		Date on the document: 12/05/2005
[Proposed] Order
Type: Order		Date on the document: 12/05/2005
Public Employees’ Retirement System Of Mississippi’s Motion For Administrative Relief
Type: Motion		Date on the document: 12/05/2005
Order (1) Directing The Clerk Of The Court To File The Complaint Of Mississippi Pers And Vacating Hearing Date On Mississippi Pers’ Motion To Intervene; (2) Consolidating The Instant Action With The Mississippi Pers Action And Three Other Related Securities Fraud Actions; (3) Granting In Part Mississippi Pers’ Motion For Administrative Relief To Continue The Hearing On The Mercury Pension Fund Group’s Motion For Appointment As Lead Plaintiff; (4) Construing Mississippi Pers’ Motion To Intervene As A Motion For Appointment As Lead Plaintiff; And (5) Setting Briefing Schedule Re The Lead Plaintiff Motions
Type: Order		Date on the document: 12/08/2005
Order Granting Application For Admission Of Attorney Pro Hac Vice
Type: Order		Date on the document: 12/08/2005
Order Granting Application For Admission Of Attorney Pro Hac Vice
Type: Order		Date on the document: 12/08/2005
Proposed Lead Plaintiff The Mercury Pension Fund Group's Opposition To The Public Employees' Retirement System Of Mississippi's Motion For Administrative Relief
Type: Other		Date on the document: 12/08/2005
Order Granting Application For Admission Of Attorney Pro Hac Vice
Type: Order		Date on the document: 12/12/2005
Related Case Order
Type: Order		Date on the document: 12/19/2005
Declaration Of Michael A. Schwartz In Further Support Of The Motion Of The Public Employees’ Retirement System Of Mississippi For Appointment Of Lead Plaintiff And For Approval Of Selection Of Lead Counsel
Type: Declaration		Date on the document: 12/21/2005
Declaration Of Conor R. Crowley In Support Of Proposed Lead Plaintiff The Mercury Pension Fund Group’s Supplemental Brief In Opposition To The Public Employees’ Retirement System Of Mississippi’s Request To Be Appointed Lead Plaintiff
Type: Declaration		Date on the document: 12/23/2005
Proof of Service
Type: Other		Date on the document: 12/23/2005
Proof Of Service By Electronic Posting Pursuant To Northern District Of California Local Rules And ECF General Order No. 45 And By Mail On All Known Non-Registered Parties
Type: Other		Date on the document: 12/23/2005
Proposed Lead Plaintiff The Mercury Pension Fund Group’s Supplemental Brief In Opposition To The Public Employees’ Retirement System Of Mississippi’s Request To Be Appointed Lead Plaintiff
Type: Brief		Date on the document: 12/23/2005
[Proposed] Order Granting The Public Employees’ Retirement System Of Mississippi’s Motion For Appointment Of Lead Plaintiff And For Approval Of Selection Of Lead Counsel
Type: Order		Date on the document: 12/23/2005
Supplemental Memorandum Of Law In Support Of The Motion Of The Public Employees’ Retirement System Of Mississippi Forappointment Of Lead Plaintiff And For Approval Of Selection Of Lead Counsel
Type: Memorandum		Date on the document: 12/23/2005
Certificate of Service
Type: Other		Date on the document: 01/06/2006
Declaration Of Conor R. Crowley In Support Of Proposed Lead Plaintiff The Mercury Pension Fund Group’s Supplemental Reply Brief In Opposition To The Public Employees’ Retirement System Of Mississippi’s Request To Be Appointed Lead Plaintiff
Type: Declaration		Date on the document: 01/06/2006
Proposed Lead Plaintiff The Mercury Pension Fund Group’s Supplemental Reply Brief In Opposition To The Public Employees’ Retirement System Of Mississippi’s Request To Be Appointed Lead Plaintiff
Type: Brief		Date on the document: 01/06/2006
Supplemental Reply Memorandum Of Law In Support Of The Motion Of The Public Employees' Retirement System Of Mississippi For Appointment Of Lead Plaintiff And For Approval Of Selection Of Lead Counsel
Type: Memorandum		Date on the document: 01/06/2006
Proof Of Service
Type: Other		Date on the document: 01/09/2006
Letter To Honorable Jeremy Fogel
Type: Other		Date on the document: 01/12/2006
Civil Minute Order
Type: Other		Date on the document: 01/17/2006
Clerk's Notice
Type: Notice		Date on the document: 03/01/2006
Stipulation And [Proposed] Order Continuing March 8, 2006 Case Management Conference
Type: Order		Date on the document: 03/02/2006
Stipulation and Order Continuing March 8, 2006 Case Management Conference
Type: Order		Date on the document: 03/07/2006
Defendant Douglas P. Smith's Notice Of Substitution Of Counsel
Type: Notice		Date on the document: 03/16/2006
Letter To The Honorable Jeremy Fogel
Type: Other		Date on the document: 04/11/2006
Proof Of Service
Type: Other		Date on the document: 04/11/2006
Letter from Michael A. Schwartz
Type: Other		Date on the document: 04/12/2006
Proof Of Service On Non-E-Filing Parties
Type: Other		Date on the document: 04/18/2006
Order Appointing Mercury Pension Fund Group As Lead Plaintiff And Approving Choice Of Lead Counsel
Type: Order		Date on the document: 05/05/2006
Clerk's Notice
Type: Notice		Date on the document: 05/10/2006
Stipulation And [Proposed] Order Re Consolidated Actions And Schedule For Filing Of The Consolidated Complaint And Briefing Certain Motions
Type: Order		Date on the document: 05/31/2006
Stipulation And Order Re Consolidated Actions And Schedule For Filing Of The Consolidated Complaint And Briefing Certain Motions
Type: Order		Date on the document: 06/07/2006
Notice Re: Noncompliance With Court Order
Type: Notice		Date on the document: 06/22/2006
Proof of Service
Type: Other		Date on the document: 06/22/2006
Stipulation And [Proposed] Order To Continue Case Management Conference
Type: Order		Date on the document: 06/22/2006
Stipulation And Order To Continue Case Management Conference
Type: Order		Date on the document: 06/27/2006
ADR Certification By Parties And Counsel
Type: Other		Date on the document: 07/13/2006
ADR Certification By Parties And Counsel
Type: Other		Date on the document: 07/13/2006
ADR Certification By Parties And Counsel
Type: Other		Date on the document: 07/13/2006
ADR Certification By Parties And Counsel
Type: Other		Date on the document: 07/13/2006
Notice For Need Of ADR Phone Conference
Type: Other		Date on the document: 07/13/2006
Proof of Service
Type: Other		Date on the document: 07/14/2006
ADR Phone Conference Scheduling Notice
Type: Notice		Date on the document: 08/24/2006
Stipulation And [Proposed] Order To Continue Filing Date For The Consolidated Amended Complaint And Time To Respond To The Consolidated Amended Complaint
Type: Order		Date on the document: 08/31/2006
ADR Certification By Parties And Counsel
Type: Other		Date on the document: 09/01/2006
Joint Case Management Statement And Proposed Order
Type: Order		Date on the document: 09/01/2006
Stipulation And Order To Continue Filing Date For The Consolidated Amended Complaint And Time To Respond To The Consolidated Amended Complaint
Type: Order		Date on the document: 09/06/2006
Notice Of Appearance
Type: Notice		Date on the document: 09/07/2006
Civil Minutes
Type: Other		Date on the document: 09/08/2006
Consolidated Class Action Complaint
Type: Complaint		Date on the document: 09/08/2006
Proof Of Service By Electronic Posting Pursuant To Northern District Of California Local Rules And ECF General Order No. 45 And By Mail On All Known Non-Registered Parties
Type: Other		Date on the document: 09/08/2006
Waiver of Service Summons
Type: Other