On or around 04/26/2019 (Court's order of dismissal)
Filing Date: January 10, 2018
Intel designs, manufactures, and sells computer, networking, and communications platforms worldwide.
The law firm press release alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) there is a fundamental design flaw in Intel’s processor chips as they contain a feature that makes them vulnerable to hacking; (2) updates to fix the problems in Intel’s processor chips could cause Intel chips to operate 5-30 percent more slowly; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On June 7, 2018, the Court issued an Order transferring this case to the District Court for the Northern District of California. On July 30, the Court consolidated this action under Docket 18-CV-00507 with the caption "In re Intel Corporation Securities Litigation."
Defendants filed a Motion to Dismiss the Complaint on August 29, 2018. On March 29, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. Plaintiffs filed a Notice of Intention Not to Further Amend the Complaint on April 16, and on April 26, the Court entered Final Judgment and dismissed the action with prejudice.
Company & Securities Information
Defendant: Intel Corporation
Headquarters: United States
Ticker Symbol: INTC
Company Market: NASDAQ
Market Status: Public (Listed)
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