Pomerantz LLP, a law firm, has filed a class action lawsuit against Intel Corporation, alleging securities fraud. Investors who purchased Intel securities during a specific period have until July 2, 2024, to request to be the lead plaintiff for the class. The lawsuit stems from Intel’s revelation of a $7 billion operating loss in its Foundry segment in 2023, leading to a drop in the company’s stock price. Subsequent financial results also showed a decrease in the company’s Foundry segment income, causing further stock price decline.
The class action lawsuit accuses Intel and certain officers/directors of engaging in securities trading fraud or illegal business practices. Investors who wish to join the lawsuit can obtain more information on the Pomerantz LLP website. The law firm, founded by Abraham L. Pomerantz, is known for its expertise in corporate, securities, and antitrust litigation. They have recovered billions of dollars on behalf of victims of securities fraud and corporate misconduct.
Intel’s stock price fell after the company disclosed losses and poor financial results related to its Foundry segment. The company’s stock price dropped by $3.61 per share in April 2024 and $3.23 in April 25, 2024, after each financial disclosure. Pomerantz LLP continues to fight for the rights of victims of securities fraud and breaches of fiduciary duty.
Investors who believe they have been affected by Intel’s actions are encouraged to contact Pomerantz LLP for more information on how to potentially join the class action lawsuit. The law firm operates offices in various locations globally and has a long-standing reputation for advocating for victims of securities fraud.
In conclusion, the class action lawsuit against Intel Corporation highlights allegations of securities fraud, with Pomerantz LLP leading the legal action on behalf of affected investors. The lawsuit stems from Intel’s financial disclosures related to its Foundry segment, which led to a decline in the company’s stock price. Investors have until July 2, 2024, to request to be the lead plaintiff in the class action lawsuit. Pomerantz LLP’s track record in recovering damages for victims of securities fraud makes them a reputable choice for investors seeking legal recourse in such cases.
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