Intel Hit With Investor Stock-Drop Suit Over Product Delay
Law360 (July 29, 2020, 7:51 PM EDT) -- An investor of Intel Corp. has filed a putative class action in California federal court, alleging the tech giant hid a defect in its highly anticipated new computer processors, delaying production, possibly pushing the market to rival companies and causing the stock price to drop.
Intel claims its 7-nanometer technology used in personal computer processors "offers double the area efficiency" of 10-nanometer products, and will offer 20% higher performance per watt, according to the complaint filed by Cheryl Huang on Tuesday.
On July 23, after the market closed, Intel issued a press release with its second-quarter 2020 financial results and disclosed...
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