View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cybersecurity
February 4, 2014

Symantec says damages from US govt probe may reach $145m

The company is currently assessing the government’s initial analysis.

By CBR Staff Writer

Security firm Symantec could have to pay up to $145m in damages after a US investigation into its sales and pricing practices for U.S. government contracts.

Symantec said in the filing that the company is fully cooperating with the investigation and in January 2014 met with representatives of the government who presented an initial estimate of actual damages exposure.

"We are currently in the process of evaluating the government’s initial analysis," the security firm said.

"It is possible that the investigation could lead to claims or findings of violations of the False Claims Act, and could be material to our results of operations and cash flows for any period."

The company reported that it has been assessing the government’s initial analysis, and it was possible that the probe could lead to allegations or findings of breaches of the False Claims Act.


Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.