McAfee Dumps General Counsel in Option Grant Debacle

McAfee, a security vendor, has terminated the employment of its general counsel, Kent Roberts, following an internal examination of the company’s employee stock options that found he was involved with an “improper” grant in 2000, The Wall Street Journal reports.

Santa Clara, Calif.-based McAfee’s internal review is ongoing, and the company has commissioned the services of an independent counsel for assistance, according to the Journal.

Both the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DoJ) have queried McAfee on the subject, the Journal reports.

The back-dating of executive stock options has been the focus of much attention from the media and lawmakers alike in recent days, as more and more tech firms come under investigation by the SEC, internal boards of directors, the DoJ or other entities.

For more on the subject, read McAfee Investigating Stock Grants and U.S. Authorities Expand Stock Grants Probe.

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