Bernstein Liebhard LLP, a prominent investor rights law firm, is reminding investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit against Intel Corporation. The lawsuit was filed on behalf of investors who bought or acquired Intel Corporation securities between January 25, 2024, and April 25, 2024. The lawsuit alleges violations of the Securities Exchange Act of 1934 by the Company and certain officers.
Investors who purchased or acquired Intel securities during the mentioned period are encouraged to visit the Intel Corporation shareholder class action lawsuit website or contact José R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com to discuss their legal rights and options. The deadline to file as a lead plaintiff is July 3, 2024.
The lawsuit claims that Intel failed to disclose information to investors, including misleading information about Intel Foundry Services (“IFS”) growth not reflecting reportable revenue growth in the Internal Foundry segment. Foundry experienced significant operating losses in 2023, a decline in product revenue, and the Foundry model would not be a strong driver of the Company’s IFS strategy. On April 25, 2024, Intel released its first-quarter 2024 financial results, revealing a 10% decrease in the Company’s Foundry segment revenue compared to the previous year.
As a result of this news, Intel’s stock price dropped by $3.23 per share, or 9.2%, closing at $31.88 per share on April 26, 2024. Bernstein Liebhard LLP, with a history of recovering over $3.5 billion for clients since 1993, has been engaged to represent investors in this case. The law firm has a successful track record in litigating lawsuits and class actions, being recognized by The National Law Journal and The Legal 500.
For more information or to discuss legal options, investors can contact José R. Seidman, Jr. at Bernstein Liebhard LLP. The law firm is located in New York City, and past results do not guarantee future outcomes in legal matters.
In conclusion, investors who have been affected by losses in Intel Corporation securities between January 25, 2024, and April 25, 2024, are encouraged to seek legal advice and consider their options before the July 3, 2024 deadline to file as a lead plaintiff in the class action lawsuit against Intel Corporation.
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https://www.globenewswire.com/news-release/2024/07/01/2906572/0/en/INTEL-CORPORATION-NASDAQ-INTC-DEADLINE-ALERT-Bernstein-Liebhard-LLP-Reminds-Intel-Corporation-Investors-of-Upcoming-Deadline.html