DoJ investigates Network Associates

Thursday, 27 March 2003, 12:40 PM EST

The California-based security software company announced the Justice Department's involvement on Wednesday and added that it plans to delay filing its annual report, known in financial terminology as a "10-K," so it can restate earning for fiscal years 1998, 1999 and 2000 to take into account information from the investigation.

"We don't know when (the Justice Department) became involved," said Jennifer Keavney, a spokeswoman for Network Associates. "We became aware of their investigation this quarter, so we are disclosing that as required. But how long they have been involved, we don't know."

An official from the Department of Justice wasn't immediately aware of the investigation and could not comment. Network Associates stock dropped from $15.38 to $15.02 (£9.75 to £9.52), a fall of 2.3 percent, by late afternoon on Wednesday.

[ Read more ]




Spotlight

Harnessing artificial intelligence to build an army of virtual analysts

PatternEx, a startup that gathered a team of AI researcher from MIT CSAIL as well as security and distributed systems experts, is poised to shake up things in the user and entity behavior analytics market.


Weekly newsletter

Reading our newsletter every Monday will keep you up-to-date with security news.
  



Daily digest

Receive a daily digest of the latest security news.
  
DON'T
MISS

Tue, Feb 9th
    COPYRIGHT 1998-2016 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //