According to a news article in Reuters, Network Associates, Inc. announced that it had agreed to settle the suit for $70 million. The settlement is subject to completion of final settlement documentation and court approval following notice to members of the class and an opportunity for class members to object.

The original complaint alleges that Network Associates and certain of its officers and directors violated the Securities Exchange Act of 1934 by making a series of materially false and misleading statements concerning the company's financial results during the class period.