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Intel Corporation (INTC)

(NASDAQ: INTC)

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $500,000 In Intel Corporation To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Intel Corporation (“Intel” or the “Company”) (NASDAQ:INTC) of the March 12, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Intel stock or options between July 27, 2017 and January 4, 2018 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Intel securities between July 27, 2017 and January 4, 2018 (the “Class Period”).  The case, Alvira v. Intel Corporation, Inc. et al, No. 2:18-cv-00223 was filed on January 10, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) there is a fundamental design flaw in Intel’s processor chips as they contain a feature that makes them vulnerable to hacking; (2) updates to fix the problems in Intel’s processor chips could cause Intel chips to operate 5-30 percent more slowly; and (3) as a result, Intel’s public statements were materially false and misleading at all relevant times.

Specifically, after market close on January 2, 2018, The Register published an article stating that there is a “fundamental design flaw in Intel’s processor chips” and updates to fix the problems could cause Intel chips to operate 5-30 percent more slowly.  Then on January 3, 2018, Intel published an article on its website confirming that its chips contain a feature that makes them vulnerable to hacking.  On this news, Intel’s share price fell from $46.85 per share on January 2, 2018 to a closing price of $45.26 on January 3, 2018—a $1.59 or a 3.39% drop.

Then, on January 4, 2018, multiple news outlets reported that Intel’s Chief Executive Officer, Brian Krzanich, sold millions of dollars worth of the Company’s shares after Intel was informed of vulnerabilities in its semiconductors, but before the vulnerabilities were publicly disclosed.  On this news, Intel’s share price fell from $45.26 per share on January 3, 2018 to a closing price of $44.43 on January 4, 2018—a $0.83 or a 1.83% drop.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Intel Corporation (INTC)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/10/2018

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