Investors in INTC have the opportunity to take the lead in a securities fraud lawsuit against Intel Corporation, according to a press release from The Law Offices of Frank R. Cruz. The class period runs from January 25, 2024, to April 25, 2024, with a lead plaintiff deadline of July 2, 2024. The lawsuit alleges that Intel failed to disclose certain information to investors during this period, leading to misleading statements about the company’s business operations.
Specifically, the complaint claims that Intel Foundry Services’ growth did not accurately represent revenue growth in the In-House Foundry segment and that the company experienced significant operating losses in 2023. Additionally, there was a decline in product profits due to lower internal revenues, undermining the strength of the Foundry model in Intel’s IFS strategy. As a result, the lawsuit alleges that the positive statements made by Intel about its business were materially misleading or lacked a reasonable basis.
Shareholders who suffered losses are encouraged to participate in the lawsuit by contacting The Law Offices of Frank R. Cruz. However, no immediate action is required to join the class. Interested parties can seek more information about the case by visiting the firm’s website or contacting them directly. The press release also notes that some jurisdictions may consider the release to be attorney advertising.
In conclusion, investors who faced losses during the specified class period are invited to take part in the securities fraud lawsuit against Intel Corporation. For more information and to potentially become a member of the class action, shareholders can contact The Law Offices of Frank R. Cruz.
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https://www.morningstar.com/news/pr-newswire/20240625la48289/intc-investors-have-opportunity-to-lead-intel-corporation-securities-fraud-lawsuit