INTEL HAS BEEN WALLOPED by 32 lawsuits so far over the Meltdown and Spectre flaws found in its processors.
"As of February 15, 2018, 30 customer class action lawsuits and two securities class action lawsuits have been filed," explained Intel in a Securities and Exchange Commission (SEC) filing.
The chipmaker is being hit from two sides, with customer class action looking to sue it for "monetary damages and equitable relief" and the securities lawsuits seeking action against Intel and its top brass.
The latter alleges that Intel "violated securities laws by making statements about its products and internal controls that were revealed to be false or misleading by the disclosure of the security vulnerabilities".
A trio of shareholders have each filed shareholder derivative actions against Intel, which allege that specific members of its board and leading officers failed to take action relating to insider trading.
This would suggest that raised eyebrows over Intel CEO Brian Krzanich's sales of company stock ahead of the Meltdown and Spectre disclosure are now being given some legal force. It's worth noting that the stock sales were part of a pre-arranged stock plan, only that the quantity of stock Krzanich was offloading seemed unusually high.
While Intel has issued fixes for both Meltdown and Spectre, not with initial resounding success, it may still face further lawsuit action form people and companies that feel the processors flaws have damaged them by their computers don't work as they should.
Spectre and Meltdown have been present in Intel chips for a decade, though they only came to light last year after Google's Project Zero security team revealed them in a non-disclosure agreement with a clutch of big tech firms.
So one could argue that all the people suing Intel are being opportunistic and haven't really been affected by the flaw in any significant manner, particularly as attacks exploiting Meltdown or Spectre have yet to be spotted out in the wild.
But unfortunately for Intel, it doesn't look like the fallout from the flaws is going away anytime soon, and could even force the chip maker to rework the architecture of it processors. µ
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