Class Action Filed Against Intel Corporation (INTC) - July 2, 2024 Deadline to Join - Contact Levi & Korsinsky

PRNewswire 1-Jul-2024 5:45 AM

NEW YORK, July 1, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Intel Corporation ("Intel Corporation" or the "Company") (NASDAQ:INTC) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Intel Corporation investors who were adversely affected by alleged securities fraud between January 25, 2024 and April 25, 2024. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/intel-corporation-lawsuit-submission-form?prid=88025&wire=4

INTC investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the growth of Intel Foundry Services was not indicative of revenue growth reportable under the Internal segment; (2) the Foundry experienced significant operating losses in 2023; (3) the Foundry experienced a decline in product profit driven by lower internal revenue; (4) as a result the Foundry model would not be a strong tailwind to the Company's IFS strategy; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

WHAT'S NEXT? If you suffered a loss in Intel Corporation during the relevant time frame, you have until July 2, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky, LLP