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Kendall Law Group Investigates McAfee, Inc. Acquisition for Shareholders

^{Published on 2010-08-19 09:20:42 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating McAfee, Inc. (NYSE: MFE) for shareholders in connection with the proposed acquisition by Intel Corporation. The national securities firma™s investigation seeks to determine whether McAfee and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a McAfee shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

"enjoyed double-digit, year-over-year growth and nearly 80 percent gross margins."

On August 19, 2010 Intel entered into a definitive agreement to acquire McAfee in a cash transaction valued at approximately $7.68 billion. Under the terms of the agreement, McAfee stockholders will receive $48.00 per share for each share of McAfee common stock held. Earlier this year, McAfee stock was trading for at or around $40 per share before tumbling on April 29 in response to the news that McAfee announced lower than expected earnings per share and revenue projections for the second quarter of 2010. Last year, McAfee aenjoyed double-digit, year-over-year growth and nearly 80 percent gross margins.a In addition, according to Thompson/First Call, at least one analyst has set a price target of $50.00 per share of McAfee stock.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.