The Portnoy Law Firm has filed a class action lawsuit on behalf of investors who lost money on their investments in Intel Corporation. The lawsuit alleges that Intel announced a shift to an “Internal Foundry” model, highlighting cost-saving and margin-improving benefits, but later disclosed significant operating losses under this new structure, causing Intel’s stock price to fall. Investors who bought or sold Intel shares between January 25, 2024, and April 25, 2024, are encouraged to contact the law firm for a free case evaluation.
The complaint accuses Intel of failing to disclose to investors certain financial information, such as the decline in product profits and significant operating losses in 2023, relating to the Internal Foundry segment. The lawsuit claims that this lack of transparency misled investors about the potential benefits of the Foundry model for Intel’s strategy.
The Portnoy Law Firm, known for representing investors in cases of corporate wrongdoing, offers a free evaluation of investors’ claims to recover their losses. The firm’s founding partner has a track record of recovering billions of dollars for investors affected by similar situations. Investors can contact Lesley F. Portnoy, Esq. by phone or email to discuss their legal rights and potential claims in this lawsuit.
In summary, investors who suffered losses in Intel Corporation due to the company’s alleged withholding of financial information regarding its shift to an Internal Foundry model are urged to contact The Portnoy Law Firm for legal assistance in pursuing recovery of their losses. The class action lawsuit filed against Intel highlights concerns about the company’s reporting of operating losses and declining product profits under the new Foundry structure, leading to a drop in Intel’s stock price. The law firm offers a no-cost case evaluation for affected investors and represents clients in cases of corporate misconduct, with a successful history of recovering significant sums for investors.
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https://www.globenewswire.com/news-release/2024/06/24/2903418/0/en/Intel-Corporation-Investors-Class-action-lawsuit-filed-on-behalf-of-investors-the-Portnoy-Law-Firm.html