Leading national shareholder rights law firm, Glancy Prongay & Murray LLP (GPM), revealed today that it has initiated an investigation into Intel Corporation’s potential violations of federal securities laws on behalf of investors. If you have incurred losses on your investments in Intel or want to explore the possibility of pursuing claims under the federal securities laws, you can provide your contact details at www.glancylaw.com/cases/Intel-Corporation-1/. Alternatively, you can get in touch with Charles H. Linehan, a representative of GPM, via phone at 888-773-9224 or email at [email protected] for further information.
On April 2, 2024, Intel announced an operating loss of $7 billion within its Foundry segment, alongside sales of $18.9 billion. The company disclosed that approximately 30% of its wafers are purchased from third-party manufacturers. Following this development, Intel’s stock price dropped by 8.2% ($3.61) to $40.33 per share on April 3, 2024, thus negatively impacting investors.
Subsequently, on April 25, 2024, Intel released its financial results for the first quarter of 2024, reporting a 10% year-over-year decline in revenue to $4.4 billion for its Foundry segment. As a result, Intel’s stock price further plummeted by 9.2% ($3.23) to $31.88 per share on April 26, 2024, exacerbating the losses suffered by investors.
Stay updated on the latest developments by following GPM on LinkedIn, Twitter, or Facebook.
If you possess non-public information concerning Intel, you are encouraged to consider your options in aiding the investigation or taking advantage of the SEC Whistleblower Program. Whistleblowers who provide original information under this program may be eligible for rewards amounting to up to 30% of any successful recovery made by the SEC. To learn more, you can contact Charles H. Linehan at 888-773-9224 or [email protected].
About Glancy Prongay & Murray LLP (GPM)
GPM is a renowned law firm that specializes in representing investors and consumers in securities litigation and other complex class action litigation. Ranked as a top five law firm by ISS Securities Class Action Services in terms of number of securities class action settlements, and a top six firm for total dollar size of settlements, GPM boasts nearly 40 attorneys across four offices nationwide. The firm has achieved significant victories and recovered billions of dollars for investors and consumers in a range of cases covering diverse forms of corporate misconduct. GPM’s track record has garnered widespread coverage from leading news and industry publications such as The Wall Street Journal, Bloomberg Businessweek, Forbes, and more.
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Source: Glancy Prongay & Murray LLP via Business Wire
Investigation Launched into Intel Corporation’s Financial Disclosures
Glancy Prongay & Murray LLP (GPM), a leading national shareholder rights law firm, has recently initiated an investigation into potential violations of federal securities laws by Intel Corporation on behalf of investors. This investigation aims to determine if Intel made any misleading statements or failed to disclose information that could have affected the company’s stock price and investor losses. Investors who have incurred losses on their Intel investments or are interested in exploring claims under federal securities laws can provide their contact details at www.glancylaw.com/cases/Intel-Corporation-1/.
Background: On April 2, 2024, Intel announced an operating loss of $7 billion within its Foundry segment, alongside sales of $18.9 billion. Additionally, the company disclosed that 30% of its wafers are purchased from third-party manufacturers. These revelations led to an 8.2% ($3.61) drop in Intel’s stock price to $40.33 per share on April 3, 2024, negatively impacting investors.
Financial Results and Further Stock Price Decline: Intel later released its financial results for the first quarter of 2024 on April 25, reporting a 10% year-over-year decline in revenue to $4.4 billion for its Foundry segment. Consequently, Intel’s stock price plunged further by 9.2% ($3.23) to $31.88 per share on April 26, 2024, exacerbating losses for investors.
Current Market Trends: The investigation into Intel’s potential securities violations highlights the importance of accurate and transparent financial disclosures by corporations. Investors rely on such information to make informed decisions regarding their investments.
Forecasts: As the investigation progresses and more information becomes available, it is anticipated that the market may react to any findings or developments. Depending on the outcome, Intel’s stock price could be impacted, potentially leading to further losses or recovery for investors.
Key Challenges or Controversies: The investigation poses a challenge as it aims to determine whether Intel intentionally misled investors or failed to disclose material information. If such violations are confirmed, it raises concerns about corporate governance and accountability within the company.
Advantages: The investigation by Glancy Prongay & Murray LLP provides investors with an opportunity to explore potential claims under federal securities laws. If violations are established, investors may seek compensation for their losses. Additionally, the SEC Whistleblower Program offers incentives for individuals with non-public information to assist in the investigation and potentially receive rewards.
Disadvantages: The uncertainties surrounding the investigation can create volatility in Intel’s stock price, leading to potential losses for investors. Moreover, the process of litigation and class action lawsuits can be time-consuming and complex.
To stay updated on the latest developments, interested parties can follow GPM on LinkedIn, Twitter, or Facebook. For individuals possessing non-public information concerning Intel, considering options to aid the investigation or take advantage of the SEC Whistleblower Program is encouraged.
For more information about Glancy Prongay & Murray LLP and their track record in securities litigation and complex class action cases, visit their website at www.glancylaw.com.
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