McAfee pays $67M in fraud settlements

Thousands of investors have been paid a combined $67 million in connection with financial fraud settlements by McAfee Inc., the Securities and Exchange Commission said Monday.

Security software maker McAfee settled the charges in February 2006 without admitting or denying wrongdoing. It also agreed at the time to pay roughly $50 million in penalties.

The SEC charged the Santa Clara company in January 2006 in U.S. District Court for California’s Northern District, alleging it had defrauded investors by overstating its revenue and earnings. According to the SEC, the scheme took place between 1998 and 2000.

Leave a Reply