What is the status of the insider trading investigation? Do think Intel could be distancing itself from BK's insider trading investigation? Insider trading from a former CEO, rather than from the current CEO, would lessen the blow to Intel's image.
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My first thought also that it was a way to put distance between Intel and an insider trading scandal.
Also the company won't be expending funds on a defense, and if anyone is compelled to testify there won't be a perception that they need to lie to protect their jobs.
I see it the other way around: late last year BK caught wind of the ongoing investigation and his impending firing and decided to sell everything he could out of fear they would cancel his options anytime.
Firing BK for insider trading would have made a much more plausible story than what they went with, so I don't think this was the reason.