Intel shareholders sue chipmaker after job, dividend cuts cause stock plunge

    https://www.reuters.com/legal/intel-is-sued-by-shareholders-alleging-securities-fraud-2024-08-07/

    Posted by maslumgray

    36 Comments

    1. Solid-Wasabi6384 on

      Lolol.
      What, shareholders don’t understand investment risk?
      They’re just stupid for believing in Intel the last few years.

    2. Intel is trading at 2008 prices, and it still doesn’t seem to be a good price to buy. I can’t believe they managed to fuck up this bad.

    3. I am once again begging journalists covering legal stories to at least *look at* a lawyer before publishing.

      Shareholders are suing for materially false or misleading statements leading to inflated prices from January 25 to August 1. This isn’t “oh no stock went down” this is “you lied to us so we’d pay more”

    4. Shareholders are always quick to sue on unexpected negative news but obviously never on positive.

      Reminds me of the potential lawsuit a few years ago on Nvidia with shareholders threatening to sue Jensen for allegedly misleading investors that most of the growth was coming from gaming rather than crypto mining (the latter most assumed wasn’t sustainable).

      Then once Nvidia’s share price started exploding from AI all the shareholders were happy again and dropped the suits lol.

    5. And at some point intel gets seized by the governement and delisted while shareholders lose everything.

    6. LukesLoveStick on

      Nana’s Revenge: The Intel Story

      Coming to a theater near you in 2026 ![img](emote|t5_2th52|4271)![img](emote|t5_2th52|4271)![img](emote|t5_2th52|4271)

    7. I get the dividend cut, but they’ve needed to cut jobs for a long ass time.

      They’ve got something like 5-6x more employees than competitors like Nvidia or AMD.

    8. Tall-Razzmatazz9447 on

      You know who will also be joining in on this lawsuit Mr. 700 to 0 ![img](emote|t5_2th52|4271)![img](emote|t5_2th52|4271)

    9. Abysswalker794 on

      There was a time when Intel was big in advertisements because it was a household name and was like a quality seal if your product had an Intel product in it. “This is the new dell with the Intel xxx” “it has the new i7 processor!” Etc.

      Crazy how management fucked up so hard in the last decade.

    10. investors are complete idiots

      the company needs every last cent it can get a hold of

    11. EntrepreneurFunny469 on

      Job cuts didn’t make the stock plunge. They are the first time Intel did anything right.

    12. CatatonicMan on

      Wait, you can *sue* when stocks go down in value?

      Why didn’t anyone tell me!?

    13. BeerMoney069 on

      LOL investing is a risky game, crying because you lost money is not how it works.

    14. red_purple_red on

      Pat G got Peter Principled. He was good in QA so kept getting promoted, but he’s not good at CEO.

    15. EchoChamberReddit13 on

      Intel had an aggressive DEI approach. They applied it everywhere. 🤷‍♂️

    16. “Layoff workers to improve your margins, what kind of ‘work’ are they doing anyway!”

      “Why’d you lay off so many people!”

    17. FlaccidEggroll on

      Mark my words, Intel is gonna spin off their manufacturing into a pure play and the original company will begin sourcing from TSM and the newly created spin off.

    18. Shareholder lawsuits are wins for lawyers. Unless they sue someone other than the company itself, such as former employees that embezzled money, the only source of money is the company the shareholders own. So it’s basically just taking money from shareholders to give to a specific group of shareholders, with a large chunk taken by lawyers.

    Leave A Reply
    Share via