Intel Corporation (INTC)
Class Action & Lead Plaintiff Deadline: September 28, 2020
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Intel Corporation ("Intel" or "the Company") (NASDAQ: INTC) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Intel securities between April 23, 2020 and July 23, 2020, both dates inclusive (the “Class Period”).
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Intel had identified a defect mode in its 7-nanometer process that resulted in yield degradation; (2) as a result, the Company would experience a six-month delay in its production schedule for 7-nanometer products; (3) Intel was reasonably likely to rely on third-party foundries for manufacturing its 7-nanometer products; (4) as a result of the foregoing, Intel was reasonably likely to lose market share to its competitors who are already selling 7-nanometer products; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/intc or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Intel you have until September 28, 2020 to request that the Court appoint you as co-lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.