Holder wants to stop the McAfee deal

Friday, 5 July 2002, 7:34 PM EST

In a filing Friday with the Securities and Exchange Commission, Network Associates said the lawsuit accuses the company and several executives and directors of breaching their fiduciary duties.

"Network Associates' proposed acquisition is the product of a hopelessly flawed process that was designed to ensure the sale of McAfee.com to one buyer, and one buyer only, on terms preferential to Network Associates and to subvert the interests of plaintiff and the other public stockholders of McAfee.com," according to a copy of the lawsuit included in the SEC filing.

McAfee.com shareholder Justin Peyton filed the lawsuit Monday in Superior Court of the State of California, County of Santa Clara, the filing said.

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