Network Associates Inc

The Securities and Exchange Commission on Wednesday filed civil charges of accounting fraud and insider trading against a former Network Associates Inc. chief financial officer. Prabhat Goyal was accused of overstating revenue and earnings from the second quarter of fiscal 1998 through the fourth quarter of fiscal 2000 and selling stock during that time, the SEC said in a statement.

Ingram Micro Inc., the world's largest distributor of computers and related parts, said it received requests for information related to federal investigations of Network Associates Inc. Ingram Micro received subpoenas from the U.S. attorney's office for the Northern District of California in connection with a grand jury probe of transactions with Network Associates, Santa Ana-based Ingram Micro said in a filing with the Securities and Exchange Commission.

Network Associates Inc. named George Samenuk chief executive of the computer security software maker, replacing Bill Larson, who said he was leaving last week as the company's sales lagged forecasts. Samenuk, 45, has been president and CEO of closely held Tradeout.com, which links buyers and sellers of surplus industrial goods. He worked for IBM Corp. for 22 years.

U.S. prosecutors on Tuesday charged a former chief financial officer at McAfee.com Corp. with trying to defraud shareholders by exercising stock options in 2000, when he knew the financial statements were wrong. Evan Collins, 42, exercised 30,000 shares of Network Associates Inc., which had spun off McAfee and later repurchased the company, and sold them for a profit of about $250,000, the Justice Department charged in San Francisco federal court.

Network Associates Inc. said it will buy Trusted Information Systems Inc. for about $300 million in stock, which would make Network Associates the largest provider of security products for corporate networks. Santa Clara-based Network Associates makes software that helps companies secure and monitor their computer linkups. It would pay about 32 cents a share for each Trusted Information share, valuing Glenwood, Md.-based Trusted Information at $20.19, or 60% more than Friday's close.

Network Associates Inc. shares lost nearly half their value Tuesday after the maker of computer security software said that fourth-quarter results will fall short of forecasts and that it will replace its top executives. The firm said it expects to report a fourth-quarter loss because sales are likely to total between $55 million and $65 million--about a quarter of what it reported in the quarter ended in September.

Network Associates Inc., a security software company under investigation by the Securities and Exchange Commission, said Wednesday that the Justice Department also had launched a probe against it, sparking a drop in its shares. Chief Executive George Samenuk said Network Associates learned about the Justice Department investigation this quarter, although he declined to give any details. The Justice Department "is involved at this point," Samenuk told analysts in a conference call.

A former executive of Network Associates Inc. has pleaded guilty to securities fraud in connection with a scheme to overstate the software maker's revenue and earnings from 1998 to 2000, prosecutors said Thursday. Terry W. Davis, 41, a vice president of the Santa Clara, Calif.-based company until April 2002, entered the plea Wednesday in federal court in San Francisco. As part of the plea agreement, the former executive agreed to cooperate with the Justice Department's investigation.

Ingram Micro Inc., the world's largest distributor of computers and related parts, said it received requests for information related to federal investigations of Network Associates Inc. Ingram Micro received subpoenas from the U.S. attorney's office for the Northern District of California in connection with a grand jury probe of transactions with Network Associates, Santa Ana-based Ingram Micro said in a filing with the Securities and Exchange Commission.

Computer virus fighter Network Associates Inc. said that it bought Deersoft Inc., the maker of SpamAssassin, software designed to stem the tide of unwanted e-mail swamping corporate computer networks. The Santa Clara, Calif.-based company paid an undisclosed amount for privately held Deersoft of San Mateo, Calif.

The Securities and Exchange Commission on Wednesday filed civil charges of accounting fraud and insider trading against a former Network Associates Inc. chief financial officer. Prabhat Goyal was accused of overstating revenue and earnings from the second quarter of fiscal 1998 through the fourth quarter of fiscal 2000 and selling stock during that time, the SEC said in a statement.

A malicious program attached to seemingly innocuous e-mails was spreading quickly over the Internet, clogging network traffic and potentially leaving hackers an open door to infected personal computers. The worm, called "Mydoom" or "Novarg" by anti-virus companies, appears to be an e-mail error message. A small file is attached that, when launched on computers running Microsoft Corp.'

A former executive of Network Associates Inc. has pleaded guilty to securities fraud in connection with a scheme to overstate the software maker's revenue and earnings from 1998 to 2000, prosecutors said Thursday. Terry W. Davis, 41, a vice president of the Santa Clara, Calif.-based company until April 2002, entered the plea Wednesday in federal court in San Francisco. As part of the plea agreement, the former executive agreed to cooperate with the Justice Department's investigation.

Network Associates Inc., a security software company under investigation by the Securities and Exchange Commission, said Wednesday that the Justice Department also had launched a probe against it, sparking a drop in its shares. Chief Executive George Samenuk said Network Associates learned about the Justice Department investigation this quarter, although he declined to give any details. The Justice Department "is involved at this point," Samenuk told analysts in a conference call.

Computer virus fighter Network Associates Inc. said that it bought Deersoft Inc., the maker of SpamAssassin, software designed to stem the tide of unwanted e-mail swamping corporate computer networks. The Santa Clara, Calif.-based company paid an undisclosed amount for privately held Deersoft of San Mateo, Calif.

EARNINGS * Network Associates Inc., a maker of computer security and anti-virus software, reported better-than-expected profit growth for the third quarter, sending its shares up 25%. Network Associates also said it cut 100 jobs and would shift one-third of the nearly 600 workers at its Santa Clara, Calif., headquarters to a facility near Dallas to reduce costs. Net income was $9.1 million, or 6 cents a share, contrasted with a net loss of $11.