Intel beats shareholder lawsuit over $32 billion stock plunge
(Article to remove several paragraphs accidentally copied)
By Jonathan Stempel
(Reuters) -Federal judge rejected a case that accused Intel of the problems of hiding problems for external customers by hiding problems for external customers, and led to a daily decline of market value of $ 32 billion.
On Wednesday, the US regional judge in San Francisco decided that he did not wait for too long to reveal the loss of $ 7 billion in Foundry on Wednesday on Wednesday.
Intel’s stock price was sank one day after the dismissal of more than 15,000 work of the chip manufacturer and hoping to save 10 billion dollars in 2025, 26% sank 26%.
Santa Clara, California -based company, in 2021 to serve customers including Amazon.com and Qualcomm Foundry Business, while creating chips and wafer for internal use.
In a 21 -page decision, Thompson clearly stated that Intel’s Foundry results will “hide” until 2024, which means that previous financial reports are not wrong and misleading.
Thompson also stated that Intel’s public statements suggests a “trial and error” approach to the documentary business, the company also said that the company may encounter risks to reporting pre -, unpretentious data.
In March, the judge rejected a previous version of the case. The dismissal of Wednesday was prejudiced, that is, the shareholders cannot sue again.
Intel was accused of inflating the stock price between 25 January and 1 August 2024.
For the shareholders, lawyers did not respond immediately to their requests for comments on Thursday. Intel and his lawyers did not immediately respond to similar demands.
Intel, Nvidia, Advanced Micro devices, Samsung Electronics and Taiwan’s TSMC, such as competing to compete to compete with rival fragments. and benefit from growth artificial intelligence.
The company lost $ 18.8 billion in 2024, the first -year loss since 1986.
In the case of Re Intel Corp Securities, the US Regional Court, Northern Region of California, No. 24-02683.
(Reporting Jonathan Stempel by Nick Zieminski in New York)
