CEO George Samenuk said Tuesday that the security software company expects on Wednesday to complete its internal investigation of accounting irregularities uncovered in 1999 and 2000 financial statements.
Speaking at the JP Morgan H&Q Technology Conference, Samenuk told investors that Network Associates, also under investigation by the
Securities and Exchange Commission
, will likely make a public announcement on its internal investigation next week before its annual stockholders meeting May 15. On April 25, Network Associates withdrew its offer to buy back spinoff
after determining Network Associates will have to restate 1999 and 2000 numbers, calculated before Samenuk's arrival.
Shares of Network Associates were up $2.86, or 17.6%, to $19.15 in recent trading.