Intel and Apple: Senators pose questions
Written by Mark Evans
Intel CEO Brian Krzanich's sold shares three months before it publically disclosed the flaws in its chips that could make them vulnerable to Meltdown and Spectre.
Senator Jack Reed, a Rhode Island Democrat, and Senator John Kennedy, a Louisiana are now requesting that the dealing is investigated in a letter to the Securities and Exchange Commission and the Justice Department.
Krzanich’s sale is out of line with his previous dealings, and the crucial question will be if he had a good reason for the sale that he can disclose.
Intel, meanwhile, is currently releasing patches to fix the issues and some minor disruption to servers is expected this week as the patches take effect.
Apple, whose chips may also be affected although it is not clear to what extent, is facing its own scrutiny from US senators the US Senate over the deliberately slowing down of older iPhones.
As Apple CEO Tim Cook battles with potential lawsuits (as does Krzanich) the added pressure of the Senate, public opinion and customer complaints adds to the burden. So far Apple has offered battery replacements at much reduced prices.
Any action against either Intel or Apple in the US is likely to be followed globally, as consumer protection agencies and customers look for redress.