LOS ANGELES, July 1, 2024 (GLOBE NEWSWIRE) – Glancy Prongay & Murray LLP (GPM) is reminding investors of the upcoming deadline on July 2, 2024, to file a lead plaintiff motion in the class action lawsuit against Intel Corporation (NASDAQ: INTC) for values bought between January 25, 2024, and April 25, 2024. The lawsuit alleges that Intel made false statements and failed to disclose important information about its financial results and business operations. Investors who suffered losses can contact GPM for more information.
On April 2, 2024, Intel announced financial results showing an operating loss in the Foundry segment. This news caused the stock price to drop, resulting in heavy trading. On April 25, 2024, Intel released its first-quarter financial results under the new Foundry model, which showed a decrease in revenue compared to the previous year. This led to another drop in the stock price and heavy trading.
The class action complaint claims that the Defendants misled investors by not disclosing critical information about the Foundry segment’s performance and its impact on the company’s overall strategy. The lawsuit aims to recover losses for investors who purchased Intel securities during the Class Period.
Investors who wish to participate in the class action lawsuit must submit their claims by July 2, 2024. To learn more about the lawsuit or to inquire about your rights, you can contact Charles Linehan of GPM or visit their website. The press release also includes contact information for Glancy Prongay & Murray LLP in Los Angeles.
In conclusion, the lawsuit against Intel Corporation highlights the importance of transparency and accuracy in financial reporting. Investors should be aware of the risks involved in their investments and take appropriate action to protect their interests. By staying informed and seeking legal advice when needed, investors can make informed decisions and potentially recover losses in cases of securities fraud.
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https://www.globenewswire.com/news-release/2024/07/01/2907002/0/en/Glancy-Prongay-Murray-LLP-Reminds-Investors-of-Looming-Deadline-in-the-Class-Action-Lawsuit-Against-Intel-Corporation-INTC.html
