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Intel facing class-action lawsuit over 7nm delay
Intel's revenue was up 20 percent in its Q2 2020 earnings report, but its 7nm processors have been delayed by at least six months because production has fallen a year behind. The subsequent decline in share price resulted in AMD's stock jumping above its rival's for the first time in around 15 years.
On Friday, the Hagens Berman law firm put out a call to Intel investors who suffered significant losses to contact the company for a possible class-action suit. It also seeks people who may be able to assist in its investigation of possible securities fraud.
"Beginning at the Company's 2019 annual investor conference, Intel continuously represented that it would start shipping its first 7nm chips in 2021. The news was well-received since the Company claimed the 7nm chip would deliver double the area efficiency of its 10nm chips. Moreover, in the wake of severe delays derailing its 10nm chips, Intel assuaged concerns by stating, "We've made time-to-market the priority," and repeatedly affirmed the 7nm chip's timetable," states Hagens Berman.
Also at Guru3D.
Previously: Intel Delays "7nm" Products by 6 Months
Intel Engineering Chief Out After 7nm Product Delays
(Score: 0) by Anonymous Coward on Saturday August 01 2020, @03:19AM (2 children)
Is suing Dyson because it's taking too long to invent a star trek transporter.
(Score: 0) by Anonymous Coward on Saturday August 01 2020, @04:10AM
If anything, they should be sued because it's taking too long to invent a star trek holodeck.
(Score: 2) by jasassin on Saturday August 01 2020, @06:59AM
They should sue them because their ball vacuums are so damn expensive.
jasassin@gmail.com GPG Key ID: 0xE6462C68A9A3DB5A