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.
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.
Intel is down 7% this year, including Thursday’s move. The company is trading at $34.01 currently.