Memory FAQs
 
Home
News
Products
Shop
Memory
Corporate
Contact
 

News
Industry News
Publications
CST News
Help/Support
Member Area
Tester Brochure
Demo Library
Software
Tester FAQs

biology medicine news product technology definition

Friday, September 21, 2018
Memory Industry News
Email ArticlePrinter Format PreviousNext

Regulators investigate Intel for possible insider trading


Thursday, January 11, 2018

Two U.S. lawmakers are asking federal regulators to open an investigation into stock sales that reaped a $25 million profit for Intel's CEO several weeks before the company disclosed a serious security flaw threatening millions of computers, phones and other devices.

Sen. Jack Reed, a Rhode Island Democrat, and Sen. John Kennedy, a Louisiana Republican, made the demand in a letter sent Tuesday to the Securities and Exchange Commission and the Justice Department.

They told the agencies that they were troubled bya series of stock salesthat Intel CEO Brian Krzanich completed Nov. 29. The trades were made at time that Intel knew about security bugs that weren't disclosed until last week.

"We request that you conduct a thorough examination of whether any insider trading laws were violated," Reed and Kennedy wrote.

Intel said it will cooperate with any investigation. The SEC declined to comment on the letter and the Justice Department didn't immediately respond to a request for comment.

Krzanich's stock sales were made as part of an automated trading program designed to eliminate any questions about the timing of transactions made by top corporate executives. But Krzanich's program wasn't adopted until Oct. 30, about four months after Intel was first informed of the security bugs affecting its products.

Any investigation into Krzanich's sales would likely examine the motives for adopting a trading program at the time.

Despite the concerns raised by last week's disclosure about the security risks. Intel's stock isn't worth that much less than when Krzanich sold his stock. The company's shares closed at $43.62 Tuesday; Krzanich sold his stock at prices ranging from $44.05 and $44.56.

Krzanich held on to 250,000 shares of Intel stock, the minimum that the company requires its CEO to own.

By: DocMemory
Copyright 2018 CST, Inc. All Rights Reserved

Email ArticlePrinter Format PreviousNext
Latest Industry News
What if Amazon gets into banking ?9/21/2018
Cadence Design offers IP for AI processor9/21/2018
Amazon launches new tool to enhance visual shopping9/21/2018
DRAM focus moving towards data center9/21/2018
Toshiba Memory brushed aside concerns about falling memory chip prices9/20/2018
Alibaba Group to produce its own AI chip9/20/2018
Sanctions on Iran leads to more cyber hacking9/20/2018
Tariff does not help the chip industry9/20/2018
Macronix seeks funding to build 3D NAND9/19/2018
Trump's $200 billion tariff list includes semiconductor material and components9/19/2018

CST Inc. Memory Tester DDR Tester
Copyright © 1994 - 2018 CST, Inc. All Rights Reserved