‘These are bad facts for him’: Intel CEO’s $24 million stock sale before disclosing the chip flaw could trigger lawsuits, SEC inquiry (INTC)
- Institutional investors are talking to plaintiffs lawyers about potentially filing suit against Intel over CEO Brian Krzanich’s massive stock sale in November.
- Krzanich gained some $24 million by selling all the shares and options he was allowed to sell under a plan he put in place only the month before. His plan was put in place months after Intel was informed of a major security vulnerability in its chips.
- There’s a good chance the stock sale will draw the attention of the Securities and Exchange Commission and could lead to an internal investigation by Intel’s board, legal experts said.
Intel CEO Brian Krzanich’s