BOSTON, MA / ACCESSWIRE / August 5, 2020 / A securities class action lawsuit was recently filed on behalf of shareholders of Intel Corporation (NASDAQ:INTC). The Thornton Law Firm is investigating the case and determining if the shareholders who would be included in the case should be expanded. Investors who purchased INTC securities between October 24, 2019, and July 23, 2020, are encouraged to contact the Thornton Law Firm to discuss their rights and can submit their information for review at www.tenlaw.com/cases/INTEL. Investors may also contact Thornton Law Firm at firstname.lastname@example.org, or call 617-531-3917.
FOR MORE INFORMATION, VISIT: https://www.tenlaw.com/cases/INTEL
According to the Complaint, Intel failed to disclose to investors that: (1) Intel had identified a defect mode in its 7-nanometer process that resulted in yield degradation; (2) the Company would experience a six-month delay in its production schedule for 7-nanometer products; (3) Intel was reasonably likely to rely on third-party foundries for manufacturing its 7-nanometer products; and that (4) Intel was reasonably likely to lose market share to its competitors who are already selling 7-nanometer products. On July 23, 2020, after the market closed, Intel disclosed production delays for its 7-nanometer products after the Company had "identified a defect mode in our seven-nanometer process that resulted in yield degradation." On this news, the Company's share price fell $9.81, or approximately 16%, to close at $50.59 per share on July 24, 2020, on unusually heavy trading volume, allegedly harming investors.
The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. There is no minimum number of shares required to be a class member, and shareholders do not need to be lead plaintiff to recover as a class member. The lead plaintiff serves as a representative of all investors in the lawsuit.
Investors who suffered a loss in Intel that are interested to learn more about the lead plaintiff process are encouraged to contact the Thornton Law Firm's shareholder rights team at http://www.tenlaw.com/cases/INTEL, by email at email@example.com, or calling 617-531-3917.
FOR MORE INFORMATION: https://www.tenlaw.com/cases/INTEL
Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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SOURCE: Thornton Law Firm LLP
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