The announcement comes one week after Network Associates revealed it found accounting errors that could force it to restate financial results for 1999 and 2000. The same day, the company withdrew its bid to buy the approximately 25 percent of McAfee.com Corp. it does not already own.

Separately, Network Associates is being investigated by the U.S. Securities and Exchange Commission (news - web sites) for its practice in 2000 of booking revenues when products were shipped to distributors rather than when customers bought them.

Yahoo!

-- Anonymous, May 03, 2002

Answers

What I don't understand is why it has taken so long to discover, or make public, these errors. Could it have something to do with statute of limitations to have suits filed against them for y2k induced problems, I wonder.

-- Anonymous, May 05, 2002