Intel Faces Class-Action Lawsuit Over Alleged Investor Misleading

Shareholders claim Intel concealed foundry business issues, leading to massive financial losses and stock plunge.

Lawsuit filed by Construction Laborers Pension Trust of Greater St. Louis in San Francisco federal court.
Intel CEO Pat Gelsinger and CFO David Zinsner accused of making false statements about foundry health.
Plaintiffs allege misleading information inflated stock prices, resulting in significant losses.
Intel recently reported a $1.6 billion loss and announced layoffs of over 15,000 employees.
Company's stock has dropped 26% following financial disclosures and operational cutbacks.