At Intel, things are going very quickly. First, the chip manufacturer announced that the development of an important technology was delayed, then the share price collapsed and now its own residents are also on the barricades and want to drag the company to court. Will Intel be able to get out of this dilemma?
Share price plummets: investors sue Intel
At Intel the worm is in there. Although the company’s last quarterly results looked promising, the company’s stock price plummeted a day later. What happened? At the same time, during the presentation of the annual reports, Intel announced that the development of the 7 nm technology would be delayed by another 6 months. You are now around a year behind the original schedule. This news seemed to annoy many investors, the stock market reacted with a clear drop in the share price.
That now worries the remaining investors. These really feel betrayed by Intel. In their opinion, the company should have warned them of the delays much earlier. A class action lawsuit against Intel has now been ordered via the law firm Hagens Berman Sobol Shapiro LLP. The exact allegation: security fraud. By obscuring the information, Intel would have caused price manipulation, which investors must now pay for.
And what else has happened in the tech world? In the video we summarize the most important messages for you:
Class action against Intel: Lawyers fish in troubled waters
So far, however, there is no real handling against Intel. The chip manufacturer cannot prove the exact fact. For this reason, the firm is now looking for Intel employees who can provide incriminating evidence. According to PCGames hardware, lawyers are willing to pay up to 30 percent of the legal value for relevant information.
Not only hardware manufacturers, but also game developers have often had to go to court:
It remains to be seen whether you will really go to court in the end or settle with Intel out of court. If new information comes to light, we will let you know. However, we cannot imagine that the plaintiffs will get away with it. But in the land of unlimited possibilities, everything is possible in the end – so it remains exciting.