McAfee Inc. (MFE) fires its own General Counsel Kent Hart Roberts as a result of options backdating.
The Recorder is reporting that on May 30, the board terminated its own General Counsel. Roberts had missed many other accusations until the greed issue caught him. What is significant is that Roberts is the first McAfee executive to be fired for stock option problems.
The board has quite a dilemma. Every issue that they have approved or declined would have been influenced by the General Counsel’s hand. Imagine a key general suddenly becoming an adversary! How deep is the rot.
MFE 1-yr chart: