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Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Intel Corporation (INTC) and Encourages Investors to Contact the FirmBragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired Intel (News - Alert) Corporation (NASDAQ: INTC) securities between July 27, 2017 and January 4, 2018 (the "Class Period"). Investors have until March 12, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On January 2, 2018, after trading had closed, The Register (News - Alert) reported that a "fundamental design flaw" in Intel chips could make it possible for "hackers to exploit other security bugs or, worse, expose secure information such as passwords, thus compromising individual computers or even entire server networks." Following these disclosures, the stock price of Intel fell $1.59 per share, or over 3.3%, to close at $45.26 per share on January 3, 2018. On January 4, 2018, it was reported that Intel's CEO, Brian Krzanich, sold millions of dollars' worth of shares after Intel was informed of vulnerabilities in its semiconductors but before it was publicly disclosed. Following this news, the stock price of Intel fell $0.83 per share, or 1.8%, to close at $44.43 per share on January 4, 2018. The complaint alleges that, throughout the ClassPeriod, defendants made false and/or misleading statements and/or failed to disclose that: (1) there is a fundamental design flaw in Intel's processor chips as they contain a feature that makes them vulnerable to hacking; (2) updates to fix the problems in Intel's processor chips could cause Intel chips to operate 5-30 percent more slowly; and (3) as a result, Defendants public statements were materially false and misleading at all relevant times. If you purchased or otherwise acquired Intel securities and suffered a loss, continue to hold shares purchased prior to the Class Period, have information, 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 Brandon Walker or Melissa Fortunato by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Intel Corporation lawsuit, please go to http://www.bespc.com/intc. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
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