Intel Corporation Securities Litigation (2020)

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Lawsuit Overview

Defendant:Intel Corporation
Date Filed:July 28th, 2020
Sector:Technology
Industry:Semiconductors
Class Start Date:April 23rd, 2020
Class End Date:July 23rd, 2020

According to the Complaint, Intel Corporation is a technology company that provides computing, networking, data storage, and communication solutions worldwide. It operates through Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, Client Computing Group, and All Other segments.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that Intel had identified a defect mode in its 7-nanometer process that resulted in yield degradation; (2) that, as a result, the Company would experience a six-month delay in its production schedule for 7-nanometer products; (3) that Intel was reasonably likely to rely on third-party foundries for manufacturing its 7-nanometer products; (4) that, 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) that, 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.

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First Identified Complaint

Cheryl Huang, et al. v. Intel Corporation, et al.

Date Filed:July 28th, 2020
Class Period Start:April 23rd, 2020
Class Period End:July 23rd, 2020
First Identified Complaint Filings
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