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    Intel getting sued by shareholders

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

    “Intel (INTC) was sued on Wednesday by shareholders who said the Silicon Valley chipmaker fraudulently concealed problems that led it to post weak results, slash jobs and suspend its dividend, and caused its market value to sink more than $32 billion in a single day.”

    “The proposed class action against Intel, Chief Executive Patrick Gelsinger and Chief Financial Officer David Zinsner was filed in San Francisco federal court.”

    Do you think this will lead to something? Will Intel shareholders (sadly me too) recover atleast some losses?

    Intel getting sued by shareholders
    byu/viliam-ond- inwallstreetbets



    Posted by viliam-ond-

    View 30 Comments

    30 Comments

    1. literallyregarded on

      ![img](emote|t5_2th52|4271)![img](emote|t5_2th52|4271)![img](emote|t5_2th52|4271)![img](emote|t5_2th52|4267)

    3. alchemist67 on

      If the company doesn’t make a profit and on top of that has added substantial debt in the last year then what will they pay you with even if you sue and win?

    4. honey_102b on

      Zinsner. was CFO at Micron 2 years ago. Chandrasekaharan(head of technology development) also left Micron for Intel only a few weeks back. imagine the regret

    9. eurusdjpy on

      Nah this happens when any company drops 30%. Some class action lawyer must be making money but never heard about shareholders getting paid

    10. longGERN on

      Its ambulance chaser law firms you see them every time a stock goes down. They get fees from the idiots that engage them and the shareholders get like 0.13c in 8 years from now

    12. ghec2000 on

      Didn’t they also just get a bunch of fed money to boost chip manufacturing in the US?

    15. MixLogicalPoop on

      from what I understand law suits are practically obligatory after major drops it’s not news and shouldn’t be factored into you decision making

    16. kemar7856 on

      Means nothing anytime a stock falls people try to sue I see the notices all the time I doubt many of them actually win

    17. ayeroxx on

      are we watching the downfall of intel ? the entirety of gen Z grew up with untel CPUs and just like that, it’s about to be the new IBM

    20. IlllIlIIlIlII on

      Maybe they should reinstall their trading app and see if it will fix their losses. What I tend to do is to sell my bags that are down 90% and buy them back, then the app shows 0% loss.

    26. MtTime420 on

      Interesting that the CEO Pat Gelsinger purchased stock after the quarterly announcement.

    29. johnyeros on

      So if intel lose and have to pay out. Hows Intel gonna get the money? From the sharehoarder?? Think of the sharehoarder!

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