Legal actions launched over Meltdown

Class action lawsuits announced, Intel CEO allegedly sold majority of shares when flaws were discovered

Tags: CPUIntel CorporationUSA
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Legal actions launched over Meltdown There are several class action suits already underway against Intel for the Meltdown vulnerability.
By  Mark Sutton Published  January 7, 2018

The Spectre and Meltdown vulnerabilities, which have launched a number of patches and updates for computer systems, have also triggered a wave of legal action.

The vulnerabilities, which affect Intel, AMD and ARM-based systems, cause potential security holes which may require performance-limiting patches to remedy.

Three class-action lawsuits against Intel have been filed so far in the US, the Register reports, focused on Meltdown and its potential to be used to steal sensitive data from systems.

The lawsuits accuse the chip manufacturer of malpractice including deceptive practices, breach of implied warranty, negligence, unfair competition, and unjust enrichment.

A potential investor action has also been announced against Intel, for violations of federal securities laws. The investigation, launched in Pennsylvania, will look at possible law violations and financial damage to investors.

CNBC has also reported that Intel CEO Brian Kraznich sold off the majority of his shares in the company when Intel became aware of the flaws. An SEC filing last November showed Krzanich sold off about 644,000 shares by exercising his options and another roughly 245,700 shares he already owned, leaving him with only 245,000 shares in the company.

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