Intel Corporation

Registration Deadline:

07/02/2024

Submit Your Information

A securities class action has been filed in the USDC — N.D.CA. against Intel Corporation (INTC) (“Intel” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Intel securities between January 25, 2024 and April 25, 2024, both dates inclusive (the “Class Period”).

 

Intel designs, develops, manufactures, markets, and sells computing and related products and services worldwide. The Company’s product portfolio is comprised of central processing units (CPUs), chipsets, processors, graphics processing units (GPUs), and other semiconductor products. It also offers silicon devices and software products; and optimization solutions for workloads, such as AI, cryptography, security, storage, and networking.

 

The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:

 

(1) the growth of Intel Foundry Services was not indicative of revenue growth reportable under the Internal Foundry segment;

(2) the Foundry experienced significant operating losses in 2023;

(3) that the Foundry experienced a decline in product profit driven by lower internal revenue;

(4) as a result the Foundry model would not be a strong tailwind to the Company’s IFS strategy; and

(5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.

 

If you purchased Intel securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.