Intel is trading down 0.82% at $34.04 a share after settling counter lawsuits with John McAfee over the use of the security pioneer's name.
ADVERTISEMENT
Intel falls after settling with John McAfee (INTC)
The chip maker's shares rose after the news and were up 1.67% in early trading on Thursday.
ADVERTISEMENT
Recommended articles
McAfee agreed not to use his name in connection to cybersecurity products or services as a part of the settlement. He retained the rights to use his name in other contexts, according to Reuters.
The settlement was called 'amicable' by court documents.
McAfee, the founder of McAfee Security, sold the company to Intel in 2010 for $7.7 billion. He sued Intel after hearing that renaming his new business, MGT Capital Investments, to "John McAfee Global Technologies" would infringe on Intel's trademarks.
ADVERTISEMENT
Intel is down 7% this year, including Thursday's move. The company is trading at $34.01 currently.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
5 African cities with the most financially stable people
10 African countries struggling with the slow internet speeds in 2024
Top 10 African billionaires on Forbes list
Top 10 most important elections in Africa in 2024
Top 10 most adventurous African countries in 2024, according to U.S. News
Full list: Banking transactions exempted from CBN’s cybersecurity levy
Edward Howarth of DashTickets talks about gambling in Africa
Eco-friendly gambling: The impact of online slots on sustainability
