McAfee Shareholder Litigation
HomeCase DocumentsContact UsFile Claim

Welcome to the McAfee Shareholder Litigation Website

This website has been established to provide general information related to the proposed settlement of the consolidated case referred to as In re McAfee, Inc. Shareholder Litigation, Lead Case No. 1:10-cv-180413 (the "Action"), pending before the Superior Court of the State of California, County of Santa Clara (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated March 13, 2019, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you exchanged shares of McAfee common stock for consideration in the acquisition of McAfee by Intel Corporation at the price of $48.00 per share.

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

As described in the Notice of Proposed Settlement of Class Action (the "Notice"), on August 19, 2010, McAfee and Intel Corporation entered into an agreement and plan of merger (the “Merger Agreement”), pursuant to which, among other things, Intel Corporation, through its wholly-owned subsidiary, Jefferson Acquisition Corporation (“Jefferson,” and together with Intel Corporation, “Intel”), would acquire all outstanding shares of McAfee stock at a price of $48.00 per share in cash subject to a vote of McAfee’s shareholders, unless dissenting shareholders exercised their statutory appraisal rights pursuant to Section 262 of the Delaware General Corporation Law.

This Action alleges that Defendant David DeWalt, who served as McAfee’s Chief Executive Officer and a member of the McAfee Board of Directors, breached his fiduciary duties to the Class. The Action further alleges that Defendants Intel and McAfee aided and abetted these alleged breaches of fiduciary duty. Defendants deny these allegations. The Stipulation has a detailed procedural history of the Action.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement, if approved, will result in the creation of a cash settlement fund of $11,700,000 (the “Settlement Amount”). The Settlement Amount, plus accrued interest (the “Settlement Fund”) and minus the costs of the Notice and all costs associated with the administration of the Settlement, as well as any attorneys’ fees and expenses that may be approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Class Members pursuant to the Plan of Distribution that is described in the Notice.

ADDITIONAL INFORMATION

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

IMPORTANT DATES AND DEADLINES

Submit Proof of Claim: September 9, 2019
File Objection: August 12, 2019
Settlement Hearing: October 4, 2019, at 9:00 a.m. PST