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Lawsuit filed for Investors in shares of Intel Corporation (NASDAQ: INTC)

08-04-2020 12:13 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Intel Corporation (NASDAQ: INTC) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Intel Corporation (NASDAQ: INTC) shares over alleged securities laws violations.

An investor, who purchased shares of Intel Corporation (NASDAQ: INTC), filed a lawsuit over alleged violations of Federal Securities Laws by Intel Corporation.

Investors who purchased shares of Intel Corporation (NASDAQ: INTC) have certain options and for certain investors are short and strict deadlines running. Deadline: September 28, 2020. NASDAQ: INTC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Santa Clara, CA based Intel Corporation provides computing, networking, data storage, and communication solutions worldwide. On July 23, 2020, Intel announced a further delay to its 7nm product, explaining “[t]he primary driver is the yield of Intel's 7nm process, which based on recent data, is now trending approximately twelve months behind the company's internal target.” The Company also announced disappointing third quarter earnings guidance. Shares of Intel Corporation (NASDAQ: INTC) declined from $61.93 per share on July 21, 2020 to $46.97 per share on July 31, 2020.

The Defendants failed to disclose to investors that Intel had identified a defect mode in its 7-nanometer process that resulted in yield degradation, that, as a result, the Company would experience a six-month delay in its production schedule for 7-nanometer products, that Intel was reasonably likely to rely on third-party foundries for manufacturing its 7-nanometer products, that, as a result of the foregoing, Intel was reasonably likely to lose market share to its competitors who are already selling 7-nanometer products and 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.

Those who purchased shares of Intel Corporation (NASDAQ: INTC) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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