McAfee Settles Fraud Charges
According to the SEC, the scheme unraveled in December 2000 when McAfee announced it would miss its quarterly revenue projection by $190 million. At the time, the stock declined sharply, wiping out more than $1 billion of its market capitalization.
McAfee consented to pay the multimillion-dollar penalty to the SEC without admitting or denying the allegations of the complaint.
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