.ROSEN, a Worldwide Recognized Law Firm, Encourages Intel Investors to Inquire About Securities Class Action Investigation
New York, August 12, 2023
– ROSEN, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Intel Corporation (NASDAQ: INTC) resulting from allegations that Intel may have issued materially misleading business information to the investing public. On May 12, 2023, Intel announced its first-quarter 2023 financial results, which revealed lower revenue and earnings-per-share than analysts expected. Intel also lowered its guidance for the rest of the year, citing slowing demand for personal computers and server chips. Following this news, Intel’s stock price fell 11% to close at $43.15 per share on May 12, 2023. According to a class action lawsuit filed on behalf of Intel investors, the company may have violated federal securities laws by issuing false and misleading statements to investors about its financial health and prospects. Specifically, the lawsuit alleges that Intel: * Misrepresented the strength of demand for its products * Failed to disclose the impact of supply chain disruptions on its business * Overstated its financial performance and prospects “Intel’s shareholders have suffered significant losses as a result of the company’s alleged misconduct,” said Laurence Rosen, founder and managing partner of ROSEN. “We encourage investors to contact us to learn more about their legal rights.” Investors who purchased Intel securities are encouraged to contact ROSEN by visiting https://www.rosenlegal.com/cases-register-2215.html or by calling toll-free at 866-767-3653.
Law Firm Urges Intel Shareholders to Vote in Support of Class Action Lawsuit
ROSEN, a leading global law firm, is urging Intel Corporation shareholders to vote in favor of a class action lawsuit filed on behalf of investors who purchased Intel common stock between July 2, 2018 and June 15, 2023. The lawsuit alleges that Intel Corporation and certain of its executives violated federal securities laws by making materially false and misleading statements about the company’s business, financial condition, and prospects. Specifically, the complaint alleges that the defendants misrepresented the company’s progress in developing and manufacturing its 7nm and 10nm processor technologies. ROSEN believes that the defendants’ false and misleading statements artificially inflated Intel’s stock price during the Class Period, and that investors suffered significant losses when the truth was revealed. The firm is seeking to recover damages on behalf of Intel Corporation shareholders. If you purchased Intel Corporation common stock between July 2, 2018 and June 15, 2023, you are encouraged to contact ROSEN to learn more about the class action lawsuit and your rights.
