Intel CEO, Lutnick Sued Over Stake Sale
Photographer: Annabelle Gordon/Bloomberg
An Intel investor sued CEO Lip-Bu Tan and US Commerce Secretary Howard Lutnick over the chipmaker’s unprecedented sale of a 10% stake to the federal government last year, Mike Leonard reports.
The lawsuit was filed under seal in Delaware’s Chancery Court, but an attached public filing says it seeks “monetary relief” for fiduciary breaches by the tech giant’s senior leaders. The Commerce Department was also named as a defendant.
Although the shareholder complaint isn’t yet public, another related court filing says available information — including the company’s regulatory filings and statements by Trump ...