McAfee Defeats Shareholder Suit Over $7.7B Intel Merger

Law360, New York (November 6, 2012, 4:27 PM EST) -- A California state judge ruled in favor of McAfee Inc. on Friday in a suit that claimed the software company's board breached its fiduary duties to shareholders by allowing an executive to influence the board's 2010 decision to sell McAfee to Intel Corp. for $7.7 billion.

In granting summary judgment for McAfee, Judge James Kleinberg ruled that there was no triable dispute in the suit, which had been consolidated from four cases lodged by individual shareholders, and that former McAfee President David DeWalt had not unduly...
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