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{OT}" US senators call for probe into Intel CEO's stock dump"

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Old January 10th 18, 03:53 PM posted to alt.comp.hardware
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Default {OT}" US senators call for probe into Intel CEO's stock dump"

The author has marked this message not to be archived. This post will be deleted on January 24, 2018.

"TWO US SENATORS have called for federal regulators to open an
investigation into the sale of Intel stock by CEO Brian Krzanich,
which was held before the company disclosed the Meltdown and Spectre
security flaws. The sale earned Krzanich $25m.
In a letter to the Securities and Exchange Commission (SEC) and
Justice Department, Jack Reed (D - Rhode Island) and John Kennedy (R -
Louisiana) said that they were "troubled" by the sale.
The move, which was allegedly held while Intel knew about the
vulnerabilities, left Krzanich with just 250,000 shares - the bare
minimum required by Intel under the terms of his employment.
Intel said that the sale was made as part of an automated trading
programme. Previously, a spokesperson said that they were pre-planned
and unrelated to the discovery of the Spectre and Meltdown flaws -
although Google shared news about them in June, and the sale was only
arranged in October.
Intel has said that it will cooperate with any investigation.(...)"

An earlier article:
"Intel CEO Brian Krzanich sold off $24 million worth of stock and
options in the company in late November.
The stock sale came after Intel was informed (...) of a
significant vulnerability in its chips - a flaw that only became
public this week.
Intel says the stock sale was unrelated to the vulnerability, but
came as part of a planned divestiture program. But Krzanich put that
stock sale plan in place in October - several months after Intel was
informed of the vulnerability.(...)"

Corporate gangsters!


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