McAfee Employees Sue Over Options

Law360, New York (December 20, 2006, 12:00 AM EST) -- In a new twist to the ongoing options backdating scandal at software maker McAfee Inc., several employees have filed a breach of contract suit alleging the company’s decision to block them from exercising options violated the terms of their employment.

The employees allege that in preventing them from exercising options during a blackout period imposed just after the first allegations of backdating were leveled, McAfee cost them $2 million.

McAfee mandated the blackout period after an investigation into improper options practices forced the company to postpone...
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