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Intel slapped with class action lawsuit over foundry revenues — litigants allege securities fraud

The law firm alleges Intel is misrepresenting its financial results.

The suit alleges that the semiconductor giant failed to properly disclose losses generated by its manufacturing division in January when it reported its 2023 results. It also turned out that Intel outsources roughly 30% of its production to TSMC and other contract chipmakers; this upset investors even further. Investors who believe they lost money on Intel's stock from January 24 to April 25, 2024, have until July 2, 2024, to request to be the lead plaintiff.

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