Defendant Name:
McAfee, Inc.
Defendant Type:
Public Company
Document Reference:
2010-22
Document Details
Legal Case Name
SEC v. McAfee Inc.
Document Name
SEC Announces $67 Million Fair Fund Distribution to Harmed Investors in McAfee Financial Fraud Settlement
Document Date
22-Feb-2010
Document Format
Civil Proceeding
Case Number
06-cv-00009
Federal District Court
California, Northern District of California
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On February 22, 2010, the SEC announced the distribution of approximately $67 million to more than 16,000 investors in connection with McAfee, Inc. financial fraud settlements. The Fair Fund was created after McAfee (formerly Network Associates, Inc.), agreed to pay approximately $50 million in penalties and disgorgement to settle SEC charges in 2006 that it defrauded investors by overstating its revenues and earnings. Subsequently, the proceeds from three other settled SEC enforcement actions related to the McAfee financial fraud were added to the Fair Fund: Ingram Micro, Eric G. Borrmann, and Terry W. Davis. Settlements in these actions added more than $16 million to the Fair Fund.
Disgorgement & Penalty Information
Resolutions
Fair Funds
Plan of Distribution