BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Intel Corporation (“Intel” or the “Company”) (NASDAQ: INTC) securities between July 27, 2017 and January 4, 2018, inclusive (the “Class Period”). Intel investors have until March 12, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Intel investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On January 2, 2018, news media 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” which “raises concerns about the company’s main products and brand.” The Register reported that the operating system updates necessary to address the vulnerability would likely result in “a ballpark figure of five to 30 percent slow down, depending on the task and the processor model,” for Intel-based computing devices.
On this news, shares of Intel fell $1.85, or 3.94%, to close at $45.00 on January 3, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, throughout the Class Period, Intel and certain of its senior executive officers made false and 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% more slowly; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times.
If you purchased shares of Intel, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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