https://www.cfodive.com/news/intel-shareholders-yank-exceo-cfo-compensation-foundry/736193/
4 replies (most recent on top)
The District Court should place a restraining order on the executives limiting the access to the compensation until the case is settled.
"Filed in the United States District Court of the Northern District of California, the suit by shareholder LR Trust on behalf of Intel alleges that both Gelsinger and Zinsner breached their fiduciary duties as officers of the company by issuing misleading disclosures and failing to accurately report financials related to the company’s foundry business. Gelsinger and Zinsner, as well as other named defendants, which include both current and past members of the company’s board, “exposed the Company to significant liability under various federal securities laws by their misconduct,” according to the suit."
If the current CEO is the best Intel can get and the company is not splitter up, it can only go down as a whole. The lawsuit is the sentence.
This current Board functions only as a bunch of deer in the headlights. Greed and incompetence
As a result, the chipmaker “has been and will continue to be exposed to significant losses due to the wrongdoing complained of herein, yet the board has not caused the company to take action to recover for the company the damages it has suffered and will CONTINUE to suffer thereby,” the December shareholder derivative suit alleges.