Intel, John McAfee settle lawsuits over antivirus pioneer's name

MGT Capital Investments

05/07/2017 23:53

By Jonathan Stempel 
    NEW YORK, July 5 (Reuters) - John McAfee, the creator of 
eponymous antivirus computer software, has settled a lawsuit 
against Intel Corp  INTC.O  over his right to use his name on 
other projects after the chipmaker bought his former company. 
    U.S. District Judge Paul Oetken in Manhattan dismissed 
McAfee's September 2016 lawsuit and a countersuit by Intel on 
Wednesday, five days after a settlement agreement was signed. 
    McAfee said he sued after Intel warned him that using his 
name, including by renaming his digital gaming and cybersecurity 
company MGT Capital Investments Inc  MGTI.PK  as "John McAfee 
Global Technologies Inc," would infringe its trademarks. 
    Intel countered by accusing McAfee of trademark infringement 
and unfair competition, and sought unspecified damages. 
    Under the settlement, McAfee agreed not to use his name, 
trademark his name or the phrase "John McAfee Privacy Phone," or 
use "John McAfee Global Technologies" in connection with 
cybersecurity- and security-related products and services. 
    He retained the right in other contexts to use his name in 
advertising, promotions and presentations, including with regard 
to his role at McAfee Associates, which he sold to Intel for 
$7.7 billion in 2010. 
    Neither McAfee nor Intel admitted wrongdoing in agreeing to 
the settlement, which was amicable, according to court papers. 
    McAfee's lawyers did not immediately respond to requests for 
comment. A spokesman for Intel said the Santa Clara, 
California-based company was pleased to settle. 
    Intel spun off its cybersecurity division, now called McAfee 
LLC, in April, after agreeing to sell a 51 percent stake to 
private investment firm TPG Capital  TPG.UL . 
    TPG later accepted a minority investment in the business 
from private equity firm Thoma Bravo. 
    Intel retained a 49 percent stake in McAfee, which the 
spinoff valued at $4.2 billion including debt.  urn:newsml:reuters.com:*:nL3N1BJ4QB 
    John McAfee unsuccessfully sought the Libertarian Party's 
nomination for the U.S. presidency last year.   
    The case is McAfee et al v Intel Corp et al, U.S. District 
Court, Southern District of New York, No. 16-06934. 
 
 (Reporting by Jonathan Stempel in New York; editing by Grant 
McCool) 
 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters 
Messaging: jon.stempel.thomsonreuters.com@reuters.net)) 
 
Keywords: INTEL MCAFEE/SETTLEMENT