Violation Tracker Individual Record

Company: 
McAfee, Inc.
Current Parent Company: 
TPG Capital
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 Parent: 
USA
HQ State of Parent: 
Texas
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
private equity (including portfolio companies)
Specific Industry of Parent: 
private equity (including portfolio companies)
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.