SANTA CLARA, Calif. (AFX) - Security software maker McAfee Inc. said Friday it received a grand jury subpoena from the U.S. Attorney's Office for the Northern District of California relating to the termination of a former general counsel.
The company said the subpoena deals with the options-related activities of former general counsel Kent Roberts and McAfee's ongoing investigation of its stock-option grants.
McAfee said it is cooperating with the U.S. Attorney's office.
The company fired Roberts in May after its internal review uncovered a 2000 incident of improper conduct involving its stock options.
In July, McAfee warned investors that its past profits may have been inflated due to insiders' use of backdated stock option grants.
McAfee is one of at least 74 companies under review by the Securities and Exchange Commission or the Department of Justice for possible backdating of stock option grants to coincide with share price lows in order to fatten profits when the stock was sold. Another 27 companies have launched internal reviews of their stock-options practices.
Shares of McAfee closed up 5 cents at $21.53 on the New York Stock Exchange.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.