CONSHOHOCKEN, Pa.–Sept. 13, 2005- LAWFUEL – The Law News Network -Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the Northern District of California, on behalf of persons who purchased or otherwise acquired publicly traded securities of Mercury Interactive Corporation (“Mercury” or the “Company”) (NASDAQ:MERQE) between October 22, 2003 and August 23, 2005, inclusive, (the “Class Period”). The lawsuit was filed against Mercury and certain officers and directors.
If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at [email protected] and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than October 20, 2005 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel.
The complaint alleges that during the Class Period, unknown to investors, the Company’s internal controls and corporate compliance mechanisms were inadequate. On July 28, 2005, Mercury filed a Form 8-K with the SEC disclosing that it had formed a Special Committee in response to an SEC inquiry relating to the timing of the Company’s issuance of certain stock options. On August 29, 2005, the Company issued a press release and filed a Form 8-K with the SEC announcing that the Company’s previously issued financial statements could no longer be relied upon and that it would be restating its financial results for fiscal years 2002, 2003, and 2004 and for the first quarter, 2005. The Company’s stock price, which traded as high as $44.74 on June 1, 2005, fell to $36.94 on August 29, 2005 following the Company’s announcements.
If you bought Mercury securities between October 22, 2003 and August 23, 2005, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 753-2796 to speak with an advisor.