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SHAREHOLDER WARNING: Regulation agency Pomerantz is reminding shareholders of losses on their funding in Intel Company over class motion and upcoming deadline – INTC – Yahoo Finance

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "NEW YORK, NY / ACCESSWIRE / Aug 22, 2020 / Pomerantz LLP announces that a class action lawsuit has been filed against Intel Corporation ("Intel" or the "Company") (NASDAQ: INTC) and some of its officers. The class action lawsuit, filed in the U.S. District Court for the Northern District of California and indexed at 20-cv-05549, is directed to a class comprised of all persons and entities, except defendants, who purchased or otherwise purchased Intel securities acquired April 23, 2020 and July 23, 2020, inclusive (the "Class Period") to take remedial action under the Securities Exchange Act of 1934 ("Exchange Act"). "Data-reactid =" 12 ">NEW YORK, NY / ACCESSWIRE / Aug 22, 2020 / Pomerantz LLP announces that a class action lawsuit has been filed against Intel Corporation ("Intel" or the "Company") (NASDAQ: INTC) and some of its officers. The class action lawsuit, filed in the U.S. District Court for the Northern District of California and indexed at 20-cv-05549, is directed to a class comprised of all persons and entities, except defendants, who purchased or otherwise purchased Intel securities acquired April 23, 2020 and July 23, 2020, inclusive, (the “Class Period”) to take remedial action under the Securities Exchange Act of 1934 (the “Exchange Act”).

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "If you are a shareholder who bought Intel securities while During class time, you have until September 28, 2020 to request the court to appoint you as the lead plaintiff for the class. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 7980. Those inquiring by email are asked to provide their postal address, telephone number, and the number of shares purchased. "Data-reactid =" 13 "> If you are a shareholder who purchased Intel securities during the class period, you have until September 28, 2020 to ask the court to appoint you as the lead plaintiff for the class To obtain a copy of the complaint, visit www.pomerantzlaw.com To discuss this action, contact Robert S. Willoughby at newaction @ pomlaw.com or 888.476.6529 (or 888.4-POMLAW) toll free ext. 7980. Whoever When inquiring by e-mail, please provide your postal address, telephone number and the number of shares purchased.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "(Click here for information on how to participate in the class action.)"data-reactid =" 14 "> (Click here for information on joining the class action.)

Intel is a technology company that provides computing, networking, data storage, and communications solutions worldwide. The company operates in the segments Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, Client Computing Group and All Other.

According to Intel, the 7-nanometer CPU technology is the next generation after Intel's 10-nanometer technology. Intel claims that 7-nanometer technology offers twice the area efficiency of 10-nanometer products and offers 20% more performance per watt. In May 2019, Intel planned to ship its first 7 nanometer products in 2021.

The complaint alleges that throughout the class period, defendants made materially false and / or misleading statements and did not disclose material adverse facts about the company's business, operations and prospects. In particular, defendants have failed to advise investors: (i) that Intel identified a defect mode in its 7-nanometer process that resulted in a deterioration in ROI; (ii) that the company would delay its production schedule for 7 nanometer products by six months; (iii) Intel was reasonably likely to have relied on third party foundries to manufacture its 7 nanometer products; (iv) that as a result of the foregoing, Intel would be reasonably likely to lose market share to its competitors who already sell 7-nanometer products; and (v) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations and prospects were materially misleading and / or unfounded.

On July 23, 2020, after the market closed, Intel announced production delays for its 7-nanometer products after the company "identified a defect mode in its 7-nanometer process that was causing yield degradation."

In that news, Intel's share price fell $ 9.81 per share, or approximately 16%, to close at $ 50.59 per share on July 24, 2020 in an unusually high trading volume.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The company Pomerantz with offices in New York, Chicago, Los Angeles and Paris are recognized as a leader in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as the dean of class action Pomerantz, the company pioneered class action litigation for securities. Today, more 80 years later, the Pomerantz Company continues its tradition of fighting for the rights of victims of securities fraud, fiduciary violations, and corporate misconduct recovered numerous millions of dollars in damages on behalf of class members www.pomerantzlaw.com

SOURCE: Pomerantz LLP "data-reactid =" 24 "> The Pomerantz company, with offices in New York, Chicago, Los Angeles and Paris, is one of the leading companies in the fields of corporate, securities and antitrust disputes. The Pomerantz company was founded by the late Abraham L. Pomerantz, known as the dean of class action lawsuits, pioneered securities class action lawsuits. Today, more than 80 years later, Pomerantz continues its tradition of fighting for the rights of victims of securities fraud , Fiduciary Violations and Corporate Misconduct. The company has filed numerous multi-million dollar damages claims on behalf of class members. See www.pomerantzlaw.com

SOURCE: Pomerantz LLP

View source version on accesswire.com:
https://www.accesswire.com/602868/SHAREHOLDER-ALERT-Pomerantz-Law-Firm-Reminds-Shareholders-with-Losses-on-their-Investment-in-Intel-Corporation-of-Class-Action-Lawsuit- and-imminent-deadline-INTC

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