Berman DeValerio announced that it has secured a settlement in a derivative lawsuit against Intel Corporation whereby the company will implement a series of corporate governance reforms. The agreement, approved by a federal court in Delaware earlier this week, came as the U.S. Federal Trade Commission was negotiating a possible settlement with the computer chipmaker over allegations of anticompetitive practices. U.S. District Court Judge Joseph J. Farnan, Jr. issued an opinion detailing his reasoning on July 23, 2010. The court-approved governance changes are designed to minimize opportunities for the types of anticompetitive behavior that spawned private litigation, regulatory actions and large fines against the company. Berman DeValerio acted as co-lead counsel on behalf of institutional and individual investors. In the shareholder derivative suit approved this week, plaintiffs alleged that the company's directors breached their fiduciary duties to the company by allowing Intel to engage in anticompetitive behavior for over a decade. The settlement agreement provides a substantial benefit to the company in the form of more than 40 distinct corporate governance measures designed to help Intel detect and prevent potential or actual violations of domestic or global competition law and company policy. Among many other things, the Settlement requires that (1) antitrust compliance is overseen by a strong and impartial 'Compliance Committee' consisting of three independent directors and (2) Intel 's antitrust compliance policies, procedures and programs will, in all material aspects, be intended to conform with the relevant provisions of the United States Federal Sentencing Guidelines.

The Federal Trade Commission has entered an order extending by two weeks the temporary withdrawal of its case against Intel Corporation. from adjudication to allow the Commission more time to consider a proposed settlement. The original order was issued on June 21 and was set to expire on July 23. This action extends the withdrawal until August 6, 2010.

Intel Corporation announced board of directors has declared a 15.75 cents per share quarterly dividend on the company's common stock. The dividend will be payable on September 1, 2010 to stockholders of record on August 7, 2010.