Overview

A class action lawsuit has been filed against Intel Corporation (“Intel” or the “Company”) (NASDAQ: INTC) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The Intel class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Intel common stock between January 25, 2024, and August 1, 2024, both dates inclusive (the “Class Period”).  Investors have until October 7, 2024, to seek appointment as lead plaintiff of the Intel class action lawsuit.

Intel is a global integrated design manufacturer (“IDM”) for central processing units (“CPUs”), semiconductor chips, and related solutions.

The Intel class action lawsuit alleges that Defendants failed to disclose the following adverse facts pertaining to Intel’s business, operations, and financial condition, which were known to or recklessly disregarded by Defendants as follows:

(1) Intel’s foundry unit was suffering from ballooning costs and required substantially more capital expenditures than investors had been led to believe and, as a result, had suffered $7 billion in losses in 2023; (2) Intel’s foundry unit had suffered a negative 37% operating margin in 2023 and was years away from positively contributing to the Company’s profits margins; (3) in 2024, Intel’s foundry unit was on track to eclipse the staggering losses it had suffered in the prior year; (4) despite monumental investment by the Company, Intel’s foundry unit was actually suffering declining revenues during the Class Period; (5) as a result of (a)-(d) above, Intel was running years behind its stated long-term profitability targets of 60% gross margins and 40% operating margins and such targets lacked a reasonable factual basis

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If you purchased or otherwise acquired Intel common stock between January 25, 2024 and August 1, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Intel class action lawsuit is October 7, 2024.