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From TFA: The proposed class action suit lists Intel, CEO Pat Gelsinger, and CFO David Zinsner as the respondents. The actual settlement is all but certainly
by dredmorbius 2y ago
From TFA: The proposed class action suit lists Intel, CEO Pat Gelsinger, and CFO David Zinsner as the respondents.
The actual settlement is all but certainly covered under D&O liability coverage. That's directors and officers insurance, a major line of corporate insurance products.
<https://en.wikipedia.org/wiki/Directors_and_officers_liability_insurance https://en.wikipedia.org/wiki/Directors_and_officers_liabili...>
<https://www.thehartford.com/management-liability-insurance/d-o-liability-insurance/explained https://www.thehartford.com/management-liability-insurance/d...>
From the latter link:
Directors and officers are sued for a variety of reasons related to their company roles, including: Breach of fiduciary duty resulting in financial losses or bankruptcy, Misrepresentation of company assets, Misuse of company funds, Fraud, Failure to comply with workplace laws, Theft of intellectual property and poaching of competitor’s customers, [and] Lack of corporate governance.
Several of those conditions are directly applicable to this lawsuit.