Network Associates says it is conducting an internal investigation under the direction of the Audit Committee of its Board of Directors to determine the scope and magnitude of these inaccuracies. The company has informed the Staff of the SEC of the Audit Committee’s internal investigation and will keep the SEC informed as to its progress.
Network Associates scraps McAfee deal
Network Associates has scrapped its plans to acquire the remaining 25% stake of McAfee.com hat it doesn't already own after discovering accounting inaccuracies in McAfee's 1999 and 2000 financial statements.