SAN FRANCISCO, Jan. 26, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds Intel Corporation (NASDAQ:INTC) investors of the March 12, 2018 Lead Plaintiff deadline in the pending securities class action concerning possible improper insider trading ahead of disclosures about long known chip design flaws. If you purchased or otherwise acquired securities of Intel between July 27, 2017 and January 4, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/INTC
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On January 2, 2018, news outlets began reporting security flaws in certain Intel processor designs. A Google team reportedly uncovered two security flaws. The more serious (“Meltdown”) apparently affects only Intel chips. The other (“Spectre”) affects microprocessors from Intel, AMD and ARM. One researcher called Meltdown “probably one of the worst CPU bugs ever found.” Google reportedly conveyed its findings to Intel six months earlier on June 1, 2017.
This disclosure drove the price of Intel shares down over 5% during two trading days to close at $44.43 on January 4, 2018.
Shortly before the news broke, Intel’s CEO (Brian Krzanich) sold substantial amounts of his Intel shares, reaping nearly $39 million dollars according to SEC filings. Since then he has sold more.
“We’re focused on the extent of Intel’s undisclosed chip problems, when senior executives knew of the problems, potentially improper insider trading, and the damages inflicted on Intel investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Intel should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email INTC@hbsslaw.com.
About Hagens Berman
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Contact:
Reed Kathrein, 510-725-3000