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Intel, Broadcom settle suit
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November 21, 2000: 8:15 p.m. ET
Trade secrets dispute cleared; patent infringement suit still being litigated
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NEW YORK (CNNfn) - Chip makers Intel Corp. and Broadcom Corp. said Tuesday that they have settled a legal dispute regarding trade secrets.
The suit, first filed by Intel against Broadcom in California Superior Court last March, alleged that Broadcom was trying to steal Intel's trade secrets when it hired three former Intel employees.
Last June, Broadcom filed a countersuit against Intel, claiming it had misappropriated some of Broadcom's trade secrets related to a network product.
The terms of the settlement were not disclosed, but in a joint statement issued Tuesday, both companies said they were satisfied with its terms. An Intel spokesman said they reached an agreement late Monday evening.
But the settlement does not entirely put to an end the legal disputes between the two companies. Intel still has an unrelated suit pending against Broadcom which claims the company violated certain Intel patents.
Based in Santa Clara, Calif., Intel is the world's leading supplier of microprocessors for personal computers. Broadcom, which has its headquarters in Irvine, Calif., is a leading supplier of chips used in communications products such as cable-modems.
Intel (INTC: Research, Estimates) shares ended Tuesday's session up $1.50 at $42.62. Broadcom (BRCM: Research, Estimates) fell $3.88 to close at $126.25. 
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Broadcom
Intel
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