Security software maker McAfee has put aside $50 million for a potential settlement with the U.S. Securities and Exchange Commission, the Santa Clara, Calif., company said on Thursday. The SEC in March 2002 started an investigation into McAfee's books for the year 2000 and prior periods. That case may now be settled, McAfee said in a statement.
The proposed agreement would include a $50 million penalty, the company said. The SEC still has to approve the deal, though McAfee has been advised that SEC staff will recommend its acceptance. In May 2002 McAfee, which then did business as Network Associates, restated portions of its financial results from 1998 through 2000 because of accounting errors. Shares in McAfee closed the day Thursday at $30.50, down $0.24, on the New York Stock Exchange.
Join the conversation
Comment replyThe posting of advertisements, profanity, or personal attacks is prohibited. Click here to review our Terms of Use.
The company didn't try hard enough to stop a 10-year incursion by hackers likely working from China, says a former Nortel exec cited by the Wall Street Journal.
Google creates an animated doodle that features a boy, a girl, Google's search engine, and a jump rope. But might there be darker, more analytical, more troubling interpretations to this tale?
When the sun goes down, that's when the iPad gets busy for folks with news readers. The iPhone? It's more of a daytime habit. If you're building an app for both devices, heed the lesson.
EnerG2 opens a plant to make an engineered carbon that will improve performance of energy storage devices and make storage for start-stop hybrid cars less expensive.
Join the conversation