Lisa C. Berry

SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 22132 / OCTOBER 19, 2011

SEC v. Lisa C. Berry, Case No. 07-cv-4431-RMW (N.D. Cal. filed Aug. 28, 2007)

SEC SETTLES STOCK OPTION BACKDATING CLAIMS WITH FORMER GENERAL COUNSEL OF JUNIPER NETWORKS AND KLA-TENCOR CORP.

The Securities and Exchange Commission resolved its claims with Lisa C. Berry, the former General Counsel of KLA-Tencor Corp. and Juniper Networks, Inc. The Commission alleged that from 1997 through 2003 Berry caused KLA-Tencor and Juniper to report false financial information to the investing public through her preparation of corporate records that concealed that employee stock option grants were priced with the benefit of hindsight at both companies.

Without admitting or denying the Commission's allegations, Berry consented to pay a $350,000 civil penalty, and also to pay disgorgement totaling $77,120, including interest. In addition, Berry consented to the entry of a final judgment that will enjoin her permanently from violating Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933, Section 13(b)(5) of the Securities Exchange Act of 1934, and Rule 13b2-1 under the Exchange Act, as well as aiding and abetting violations of Sections 13(a), 13(b)(2)(A), 13(b)(2)(B), and 14(a) of the Exchange Act, and Rules 12b-20, 13a-1, 13a-11, 13a-13 and 14a-9 thereunder. The United States District Court for the Northern District of California approved the settlement on October 7, 2011.

In a separate administrative proceeding, Berry also agreed to be suspended from appearing or practicing as an attorney before the Commission. Under the terms of the agreement, Berry may apply for reinstatement in five years. Berry agreed to the suspension without admitting or denying the Commission's allegations.

The Commission previously resolved stock option backdating claims against Juniper, KLA-Tencor, and KLA-Tencor's former Chief Executive Officer, Kenneth L. Schroeder. All consented to resolve the Commission's claims without admitting or denying the Commission's allegations.

For additional information, see Release No. 34-65582 (Oct. 18, 2011) and Litigation Release Nos. 20207 (July 25, 2007) and 20257 (Aug. 28, 2007).