A lawsuit was filed on behalf of investors in Intel Corporation (NASDAQ:INTC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/23/2018 -- An investor, who purchased NASDAQ:INTC shares, filed a lawsuit against Intel Corporation over alleged violations of Federal Securities Laws by Intel Corporation.
Investors who purchased shares of Intel Corporation (NASDAQ:INTC) have certain options and for certain investors are short and strict deadlines running. Deadline: March 12, 2018. NASDAQ:INTC investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On October 27, 2017, Intel revised the 2017 outlook upward based on it achieving double-digit growth.
Then on November 29, 2017, Intel Chief Executive Officer ("CEO") Brian Krzanich sold over $39 million of Intel shares. After the sale, it left Krzanich holding just 250,000 shares, the bare minimum under Intel's corporate governance guidelines that he will be required to hold in May 2018 – his 5th anniversary of being named CEO.
On Tuesday, January 2, 2018, a report was published disclosing that some Intel processors have a "fundamental design flaw" that will spur a significant security update of Linux and Microsoft Windows operating systems to work around it. The report states that the chips manufactured by AMD, Intel's largest competitor, were not affected. Citing a December 20, 2017, post on technology blog LWN.net, technology blogger Peter Bright at ARS Technica reported on January 3, 2018, that the first Linux patches had already been devised and were being distributed by the end of October 2017, followed soon by Microsoft patches in November 2017.
The plaintiff claims that between July 27, 2017, and January 4, 2018 the defendants made false and/or misleading statements and/or failed to disclose that a fundamental design flaw exists in Intel's processor chips that makes them vulnerable to hacking, that updates to fix the problems in Intel's processor chips could cause Intel chips to operate significantly more slowly, and that as a result, Defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Intel Corporation (NASDAQ:INTC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego