Update on McAfee, Inc. Investor Lawsuit over Acquisition by Intel Corp.

Sept. 28, 2011 - PRLog -- Several lawsuits were filed by investors of McAfee, Inc.  alleging breaches of fiduciary duty i
Several investors filed lawsuits in response to the announcement from August 2010 that Intel would acquire McAfee. The investors claimed that the offer by Intel to acquire Mc Afee at $48 per share is too low and the sale process unfiar to MFE investors. The lawsuits were consolidated and the litigation is currently still pending.

If you are a former investor in shares of McAfee, Inc.  who purchased MFE stocks on or prior to August 18, 2010, you have certain options and you should contact the Shareholders Foundation, Inc by email mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

The plaintiffs allege in their complaints that the defendants breached their fiduciary duty owed to the public stockholders of McAfee by the attempt to sell Mc Afee, Inc to Intel Corp. via an unfair process at an unfair price.

Indeed, Mc Afee’s financial performance increased. In fact, McAfee’s revenue almost doubled from 2006 to 2009. In 2006 McAfee reported Total Revenue of $1.14516billion, in 2007 $1.30822billlion, in 2008 $1.6billion, and in 2009 $1.92733billion. Its Net Income went from $137.47million in 2006 to $173.42million in 2009.

Additionally at least one analyst has set prior to the August 2010 announcement a target price for McAfee, Inc.  shares at $50.00 per share for.
Furthermore, so the plaintiff, defendants entered in to numerous agreements meant to deter additional offers for McAfee, like a $230 termination fee or a no-solicitation provision.
On February 28, 2011, Intel Corporation  announced that the acquisition of McAfee, Inc. was complete.
However the lawsuit over the alleged breaches of fiduciary duties is still pending.  

Those who are former investor in shares of McAfee, Inc.  who purchased MFE stocks on or prior to August 18, 2010, you have certain options and you should contact the Shareholders Foundation, Inc by email mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

# # #

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.