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.
Intel Corporation Securities Litigation (2020)
Aug 01, 2020 |
Intel Corporation NASDAQ: INTC |
Case Status: Filed
If you purchased a significant amount of shares of Intel Corporation (NASDAQ: INTC), you have certain options. Investors should register for updates.
Lawsuit Overview
Sign up for free to create a personalized portfolio with tracking and e-mail alerts for Intel Corporation
First Identified Complaint
Cheryl Huang, et al. v. Intel Corporation, et al.
First Identified Complaint Filings
# | Document Title | Filing Date |
---|---|---|
1 | Class Action Complaint | July 28th, 2020 |
2 | U.S. District Court Civil Docket | July 29th, 2020 |