OCR_UNRECOVERABLE
OCR_UNRECOVERABLE, No. 3:06-cv-00009
The SEC secured court approval of a distribution plan against McAfee, Inc., resolving fraud allegations involving financial misrepresentations and enabling fund recovery for affected investors.
The Securities and Exchange Commission brought an enforcement action against McAfee, Inc. (formerly Network Associates, Inc.) regarding securities misconduct involving misrepresentations about the company's financial condition and business practices. The U.S. District Court for the Northern District of California approved a distribution plan to allocate recovered funds to affected investors, authorizing attorney Jeffrey Plotkin to oversee the process in consultation with SEC staff. While specific dollar amounts were not detailed in the provided documents, the case involved significant financial losses requiring court-supervised distribution.
The Securities and Exchange Commission initiated an enforcement action against McAfee, Inc. (formerly Network Associates, Inc.) alleging securities fraud through misrepresentations about the company's financial condition and business practices. The U.S. District Court for the Northern District of California ultimately approved a distribution plan to resolve the litigation, authorizing attorney Jeffrey Plotkin to distribute recovered funds to affected investors in consultation with SEC staff. This resolution marks the final stage of the case where the allocation of assets to investors is formalized through a court-supervised process. While specific dollar amounts were not detailed in the provided documents, the case involved significant financial losses necessitating the distribution plan. The court's approval ensures that the SEC can carry out the plan to compensate investors harmed by the alleged fraud. The resolution represents the culmination of SEC litigation efforts against the defendant for securities misconduct.
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1 UNITED STATES DISTRICT COURT
2 FOR THE NORTHERN DISTRICT OF CALIFORNIA
3 SAN FRANCISCO DIVISION
4
SECURITIES AND EXCHANGE )
5
COMMISSION, )
6 )
Plaintiff, )
7 v. ) Case No. C-06-0009 (PJH)
)
8
McAFEE, INC. )
9 (f/k/a NETWORK ASSOCIATES, INC.), )
)
10 Defendant. )
11
ORDER AUTHORIZING APPROVAL OF A DISTRIBUTION PLAN
12
13 The Court, having reviewed the Unopposed Motion by Plaintiff Securities and Exchange
14 Commission for Approval of a Distribution Plan, the Distribution Plan, and the attached
15
Declaration of Jeffrey Plotkin, Esquire, and for good cause shown,
16
IT IS HEREBY ORDERED:
17
18 1. The Distribution Plan, being fair and reasonable, is approved and authorized in all
19 respects.
20
2. Mr. Plotkin, in consultation with the staff of the Commission, is directed to carry out
21
the Distribution Plan.
ISTRIC
22
TES D TC
SO ORDERED. TA
O
23
S
U
ED
RT
ERED
24 3/3/09
O ORD
UNIT
Dated: ____________________
25 IT IS S
R NIA
26
ilton
_______________________________________
s J. Ham
NO
P h y ll i
Judge
FO
27
UNITED STATES DISTRICT COURT JUDGE
RT
LI
28
ER
H
A
N C
F
D IS T IC
R TO
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Case 3:06-cv-00009-PJH Document 49 Filed 03/03/2009 Page 1 of 1
1 UNITED STATES DISTRICT COURT
2 FOR THE NORTHERN DISTRICT OF CALIFORNIA
3 SAN FRANCISCO DIVISION
4
SECURITIES AND EXCHANGE )
5
COMMISSION, )
6 )
Plaintiff, )
7 v. ) Case No. C-06-0009 (PJH)
)
8
McAFEE, INC. )
9 (f/k/a NETWORK ASSOCIATES, INC.), )
)
10 Defendant. )
11
ORDER AUTHORIZING APPROVAL OF A DISTRIBUTION PLAN
12
13 The Court, having reviewed the Unopposed Motion by Plaintiff Securities and Exchange
14 Commission for Approval of a Distribution Plan, the Distribution Plan, and the attached
15
Declaration of Jeffrey Plotkin, Esquire, and for good cause shown,
16
IT IS HEREBY ORDERED:
17
18 1. The Distribution Plan, being fair and reasonable, is approved and authorized in all
19 respects.
20
2. Mr. Plotkin, in consultation with the staff of the Commission, is directed to carry out
21
the Distribution Plan.
ISTRIC
22
TES D TC
SO ORDERED. TA
O
23
S
U
ED
RT
ERED
24 3/3/09
O ORD
UNIT
Dated: ____________________
25 IT IS S
R NIA
26
ilton
_______________________________________
s J. Ham
NO
P h y ll i
Judge
FO
27
UNITED STATES DISTRICT COURT JUDGE
RT
LI
28
ER
H
A
N C
F
D IS T IC
R TO
1