||| PC Gamer |||
A recently discovered <a href="https://thegoldwater.com/news/15226-Major-Chip-Security-Flaw-Spreads-To-Computers-Worldwide">security flaw</a> in Intel CPUs caused worldwide concern, and now it has come to light that the company's CEO Bryan Krzanich sold $35 million in shares prior to the discovery.
Intel did their best to play down the security flaw but news quickly traveled and soon every media outlet was reporting on the alarming discovery. The security flaw is said to allow hackers to steal personal data from computer systems operating with those chips.
It turns out, Krzanich unloaded the maximum amount of shares he was allowed to sell, not just after security researchers informed Intel of the flaw, but he sold the shares before the public was made aware. A representative from Intel says the sale was unrelated to the security flaws.
Krzanich setup the plan to sell the shares a month before the shares were sold, at the time Intel had only just discovered the exploit and the rest of the world had yet to find out. The trade was in excess of $39 million and is likely to draw the eye of the SEC considering the circumstances surrounding the sale.
Even without an investigation by the SEC, Intel is looking at a rough time ahead with the company having the worst day on the market in eight months. The prospect of a looming SEC investigation probably isn't going to help it bounce back anytime soon either.
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Obviously as CEO he was likely one of the first to find out about the security flaw and did his best to keep it under wraps. As a precaution, he sold as many shares as he was allowed to before the stock took a hit from the public finding out. If this isn't investigated it will be because there were the right payments made to the right people. Hopefully justice prevails.