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Intel Hit With 32 Lawsuits

Intel Hit With  32 LawsuitsIntel Hit With  32 Lawsuits

Intel has revealed that the company is facing at least 32 lawsuits over the Meltdown and Spectre CPU flaws. “As of February 15, 30 customer class action lawsuits and two securities class action lawsuits have been filed,” says Intel in an SEC filing, the Verge reported. The customer class action lawsuits are “seeking monetary damages and equitable relief,” while the securities lawsuits “allege that Intel and certain officers violated securities laws by making statements about Intel’s products and internal controls that were revealed to be false or misleading by the disclosure of the security vulnerabilities.” Intel is also facing action from three shareholders who have each filed shareholder derivative actions that allege certain board members and officers at Intel have failed “to take action in relation to alleged insider trading.” It is no surprise to see Intel facing multiple lawsuits, and the company warns it could face many more in the future. The Meltdown and Spectre security flaws have helped reveal fundamental issues with processor designs over the past 20 years, and the software updates to protect PCs have had noticeable performance impacts.

 

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