We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

McAfee Employees Sue Over Options

Law360 (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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.