New York Paralegal Blog

RAJIV GOEL, a former executive at Intel Corporation (“Intel”), was sentenced today to two years of probation for his participation in an insider trading scheme in which GOEL provided material, nonpublic information (“Inside Information”) about Intel to Raj Rajaratnam, the head of Galleon Group (“Galleon”). Rajaratnam then traded based, in part, on the Inside Information. GOEL pled guilty in February 2010 to one count of conspiracy to commit securities fraud and one count of securities fraud pursuant to a cooperation agreement with the government. He was sentenced in Manhattan federal court by U.S. District Judge Barbara S. Jones.

The Federal Trade Commission today sued Intel Corp., the world’s leading computer chip maker, charging that the company has illegally used its dominant market position for a decade to stifle competition and strengthen its monopoly. In its complaint, the FTC alleges that Intel has waged a systematic campaign to shut out rivals’ competing microchips by cutting off their access to the marketplace. In the process, Intel deprived consumers of choice and innovation in the microchips that comprise the computers’ central processing unit, or CPU. These chips are critical components that often are referred to as the “brains” of a computer.