Intel Corporation (NASDAQ: INTC)
Hagens Berman Sobol Shapiro LLP reminds investors to the March 12, 2018 Lead Plaintiff deadline of the securities class action pending in the U.S. District Court for the Central District of California.
If you purchased or otherwise acquired securities of INTC between July 27, 2017 and January 4, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information contact Reed Kathrein, who is leading the firm's investigation by emailing INTC@hbsslaw.com or calling 510-725-3000.
On January 2, 2018, news outlets began reporting security flaws in certain Intel processor designs. A Google team reportedly uncovered two security flaws. The more serious (“Meltdown”) apparently affects only Intel chips. The other (“Spectre”) affects microprocessors from Intel, AMD and ARM. One researcher called Meltdown “probably one of the worst CPU bugs ever found.” Google reportedly conveyed its findings to Intel six months earlier on June 1, 2017.
This disclosure drove the price of Intel shares down over 5% during two trading days to close at $44.43 on January 4, 2018.
Shortly before the news broke, Intel’s CEO (Brian Krzanich) sold substantial amounts of his Intel shares, reaping nearly $39 million dollars according to SEC filings. Since then he has sold more.
“We’re focused on the extent of Intel’s undisclosed chip problems, when senior executives knew of the problems, potentially improper insider trading, and the damages inflicted on Intel investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Intel should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email INTC@hbsslaw.com.
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