LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Intel Corporation (“Intel” or the “Company”) (NASDAQ: INTC) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On April 2, 2024, Intel disclosed that its Foundry segment had experienced an operating loss of $7 billion on sales of $18.9 billion and that approximately 30% of the Company’s wafers are purchased from third party manufacturers. On this news, Intel’s stock price fell $3.61, or 8.2%, to close at $40.33 per share on April 3, 2024, thereby injuring investors.
Then, on April 25, 2024, Intel released its first quarter 2024 financial results, disclosing that revenue declined 10% year-over-year to $4.4 billion for its Foundry segment. On this news, Intel’s stock price fell $3.23, or 9.2%, to close at $31.88 per share on April 26, 2024, thereby injuring investors further.
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If you purchased Intel securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com