INTC - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Intel AXT Harbor Diversified and Altimmune and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Intel Corporation (NASDAQ:INTC), AXT, Inc. (NASDAQ:AXTI), Harbor Diversified, Inc. (OTC:HRBR), and Altimmune, Inc. (NASDAQ:ALT). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Intel Corporation (NASDAQ:INTC)
Class Period: January 25, 2024 - April 25, 2024
Lead Plaintiff Deadline: July 2, 2024
On April 2, 2024, after the markets closed, Intel issued a press release which disclosed a retrospective revision of the Company's financial results under the new Foundry model reporting structure, revealing that the Foundry segment experienced an operating loss of $7 billion on sales of $18.9 billion in 2023, that Foundry revenue in 2023 was $18.9 billion down $8.6 billion from 2022, that the segment's operating loss included a $2.1 million in lower product profit driven by lower internal revenue.
On this news, Intel's stock price fell $3.61, or 8.2%, to close at $40.33 per share on April 3, 2024, on unusually heavy trading.
On April 25, 2024, after the markets closed, Intel released its first quarter 2024 financial results, the first quarter reporting the Company's results under the Foundry model; the results revealed the Company's Foundry segment declined 10% compared to the same quarter last year, to a revenue of $4.4 billion.
On this ...