NAI faces SEC probe
Bid to take over McAfee.com suspended
Posted in Business, 26th March 2002 17:13 GMT
Free whitepaper – Enabling Datacenter and Cloud Service Management for Mid-Tier Enterprises
Network Associates has issued a statement confirming the Securities and Exchange Commission is investigating its accounting practices.
The probe will focus on NAI's results from 2000, which predates its current management. Network Associates stated that it believes that its accounting was proper but it will fully co-operate with the SEC.
Because of the inquiry, NAI postponed its bid to acquire shares in its McAfee.com security manged services subsidiary that it doesn’t already own.
Yesterday that offer suffered a setback when the board of McAfee.com described it as "financially inadequate" and encouraged its shareholders to reject NAI’s overtures. ®
Related stories
All of McAfee, why don't you take...
NY sues NAI so you can say McAfee sucks
McAfee.com launches in the UK
Free whitepaper – Enabling Datacenter and Cloud Service Management for Mid-Tier Enterprises
Enabling Datacenter and Cloud Service Management for Mid-Tier Enterprises
Office 365 in the real world
The Register guide to hosted apps
Register Research on: Application Platforms
Linux on the Desktop
