Intel is sued by shareholders alleging securities fraud-February 2024-www.financetom.com

Intel is sued by shareholders alleging securities fraud

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Intel is sued by shareholders alleging securities fraud

Aug 7, 2024 1:57 PM

Aug 7 (Reuters) - Intel ( INTC ) was sued on Wednesday

by shareholders who said it fraudulently concealed problems that

led to weak second-quarter results, and prompted the Silicon

Valley chipmaker to suspend its dividend and to plan cutting its

workforce by 15%.

The proposed class action filed in San Francisco federal

court seeks unspecified damages. Intel ( INTC ) Chief Executive Patrick

Gelsinger and Chief Financial Officer David Zinsner are also

defendants.

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