INTC - INTEL CORPORATION INVESTORS: Pending Lead Plaintiff Deadline in INTC Securities Fraud Class Action; Stockholders Should Contact Robbins LLP for Information | Benzinga
SAN DIEGO, June 20, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Intel Corporation (NASDAQ:INTC) securities between January 25, 2024 and April 25, 2024. Intel designs, develops, manufactures, markets, and sells computing and related products and services worldwide. The Company's product portfolio is comprised of central processing units (CPUs), chipsets, processors, graphics processing units (GPUs), and other semiconductor products.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating the Allegations that Intel Corporation (INTC) Misrepresented its Business Prospects
The complaint alleges that on October 11, 2022, CEO Pat Gelsinger announced the Company would shift to an "internal foundry model" (the "Internal Foundry" or "Foundry" model). Under the Internal Foundry model, Intel would recognize revenues generated from both external foundry customers and Intel Products, as well as technology development and product manufacturing costs historically allocated to Intel Products. The Company emphasized the cost saving and margin improving benefits the Internal Foundry model would provide and the tailwind it would bring to IFS.
The complaint further alleges that on April 2, 2024, Intel issued ...