On July 2, 2024, Pomerantz LLP announced that a class action lawsuit had been filed against Intel Corporation (NASDAQ: INTC). Investors who purchased Intel securities during a certain period are advised to contact Danielle Peyton for more information. The lawsuit questions whether Intel and its officers engaged in fraudulent or illegal business practices. Interested parties have until July 2, 2024, to request to be appointed as Lead Plaintiff. Intel’s share price dropped after the company disclosed operating losses in its Foundry segment.
In April 2024, Intel revealed a $7 billion operating loss on sales of $18.9 billion in the Foundry segment. This news caused Intel’s share price to fall by 8.2%. A later financial report in April showed a 10% decrease in the Company’s Foundry segment revenue compared to the previous year, leading to another drop in share price by 9.2%.
Pomerantz LLP, a leading law firm in corporate, securities, and antitrust class action litigation, is representing the investors in this lawsuit. The firm, founded by Abraham L. Pomerantz, focuses on recovering damages for victims of securities fraud and corporate misconduct. With offices in various locations globally, Pomerantz has a proven track record of securing billions of dollars in damages for class members.
Investors who believe they have a stake in this class action lawsuit can find more information on Pomerantz’s website. The firm encourages those interested to reach out to Danielle Peyton for assistance. It is important to note that past performance does not guarantee similar results in future cases.
Overall, the lawsuit against Intel Corporation raises concerns about potential securities fraud and illegal business practices. Investors who believe they have been affected by Intel’s financial disclosures may have a stake in this class action lawsuit. Pomerantz LLP, a renowned law firm with a history of success in securities litigation, is representing the investors in this case. Those interested in joining the class action lawsuit should contact Danielle Peyton for more information and to potentially become the Lead Plaintiff.
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