McAfee Offers to End Probe for $50 Million
McAfee Inc., the No. 2 maker of anti-virus software, offered to pay a $50-million penalty to end a probe by U.S. regulators.
The proposed settlement was worked out with the Securities and Exchange Commission staff and commissioners will vote on it soon, said Kent Roberts, general counsel of Santa Clara, Calif.-based McAfee. A portion of the $50 million may go to a shareholder compensation fund.
The deal, if accepted, would let McAfee put an end to a scandal that centers on accounting at predecessor Network Associates Inc. from 1998 to 2000.