Press release
Lawsuit filed for Investors who lost money with shares of Intel Corporation (NASDAQ: INTC)
A lawsuit was filed on behalf of investors in Intel Corporation (NASDAQ: INTC) shares over alleged securities laws violations.
Investors who purchased shares of Intel Corporation (NASDAQ: INTC) have certain options and for certain investors are short and strict deadlines running. Deadline: July 02, 2024. NASDAQ: INTC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 2, 2024, Intel Corporation disclosed that its Foundry segment had experienced an operating loss of $7 billion on sales of $18.9 billion and that approximately 30% of the Company's wafers are purchased from third party manufacturers.
Then, on April 25, 2024, Intel Corporation released its first quarter 2024 financial results, disclosing that revenue declined 10% year-over-year to $4.4 billion for its Foundry segment.
Shares of Intel Corporation (NASDAQ: INTC) declined from $51.28 per share in December 2023, to as low as $30.02 per share on May 01, 2024.
The plaintiff claims that between January 25, 2024 and April 25, 2024, the Defendants failed to disclose to investors the growth of Intel Foundry Services was not indicative of revenue growth reportable under the Internal Foundry segment, that the Foundry experienced significant operating losses in 2023, that the Foundry experienced a decline in product profit driven by lower internal revenue, as a result the Foundry model would not be a strong tailwind to the Company's IFS strategy, 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.
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 lawsuits, 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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