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Violation Tracker Individual Record

Company: McAfee, Inc.
Current Parent Company: Advent International
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $50,000,000
Year: 2006
Date: January 4, 2006
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Violation Description: McAfee, Inc., formerly known as Network Associates, Inc., agreed to pay $50 million to settle allegations that, from the second quarter of 1998 through 2000, McAfee misled investors when it engaged in a fraudulent scheme to overstate its revenue and earnings by hundreds of millions of dollars.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Massachusetts
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: private equity (including portfolio companies)
Specific Industry of Current Parent: private equity (including portfolio companies)
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.