Otellini, Barrett others sued by shareholder over antitrust

Posted by a staff writer

A case started in a Delaware district court alleging that senior executives at the Intel Corporation failed in their fiduciary duties to review policy on antitrust activities.

Charles A Gilman named Paul Otellini, Craig Barrett, D. James Guzy, David Pottruck, Jane Shaw, David Yoffie, Charlene Barshefsky, James Plummer, Susan Decker, Carol Bartz, John Donahoe and Frank Yeary as defendants in the case.

The filing alleges that attempts made over 18 months through demand letters, and in one case a meeting with the counsel for the Audit Committee, to start an investigation into the matter proved fruitless.

"Indeed, shareholder demands have been met with outright hostility which can only bespeak bad faith," says the filing.

It's alleged that a multiyear antitrust scheme was "approved and implemented by Intel's most senior executives, including CEO Paul S. Otellini, the Intel Board (a) refused to appoint an independent committe of directors" and refused to perform any investigation.

The plaintiff is seeking a jury trial.