Intel Dismisses Foundry Lawsuit

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Intel

Reuters

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Technology

Intel defeats shareholder lawsuit over foundry losses, $32 billion plunge

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Intel won the dismissal of a shareholder lawsuit accusing the chipmaker of fraudulently concealing problems in its foundry business.

The lawsuit accused Intel of inflating its stock price from January 25 to August 1, 2024 , when Intel posted a $1.61 billion quarterly loss and said it would lay off more than 15,000 people and suspend its dividend.

Intel 's share price fell 26% the next day , resulting in the $32 billion loss of market value.

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