Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of purchasers of the securities of Intel Corporation (NASDAQ:INTC) resulting from allegations that Intel may have issued materially misleading business information to the investing public.
On January 2, 2018, news outlets reported that a significant design flaw in Intel’s processor chips could allow malicious software to read protected areas of a device’s kernel memory, causing Intel’s processor chips to be “vulnerable to hackers” “rais[ing] concerns about the company’s main products and brand.” Then, on January 3, 2018, Reuters reported that Intel’s CEO, Brian Krzanich, said “Google researchers told Intel of the flaws ‘a while ago.’” The Reuters article further stated that “Google said it informed the affected companies about the ‘Spectre’ flaw on June 1, 2017 and reported the ‘Meltdown’ flaw after the first flaw but before July 28, 2017.” On this news, shares of Intel fell $1.59 per share or over 3.5% from its previous closing price to close at $45.26 per share on January 3, 2018.
Then, on January 4, 2018, news outlets reported that Intel’s CEO sold millions of dollars worth of shares after Intel was informed of vulnerabilities in its semiconductors but before it was publicly disclosed. Intel’s CEO sold about half his stock months after he learned about critical flaws in billions of Intel’s microchips and now holds only the minimum number of shares he’s required to own. On this news, shares of Intel fell $0.83 to close at $44.43 on January 4, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Intel investors. If you purchased shares of Intel, please visit the firm’s website at http://www.rosenlegal.com/cases-1265.html or more information. You may also contact Phillip Kim or Daniel Sadeh of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected]rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.