Intel Being Investigated For Fraud

July 29, 2020
Intel Building
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Things continue to get worse for Intel. There is a lot going on in the world of Intel. The chip giant is playing catch up with AMD in terms of performance, while struggling with delays of its much anticipated 7nm process.

At the same time, there are big changes happening within the company itself.

Most notably in the technology, systems architecture, and client group (TSCG) at Intel, where Chief Engineering Officer and Group President Venkata Renduchintala has departed the firm. While no reason has been provided for his decision to leave Intel, the timing has raised a few eyebrows.

The announcement came only a few days after Intel revealed that the release of the 7nm processors has been delayed by six months.

And it left many wondering if the two events are related in some way.

Now you can throw in security fraud investigation into the mix.

Law firm Hagens Berman is looking into possible investors fraud after the company insisted that the new chips would begin shipping in 2021 on multiple occasions, even guaranteeing that it has made time-to-market the priority.

Needless to say, all these promises combined with the improved performance and efficiency of a new architecture played a part in significantly increasing the company’s share price. That all came crashing down after the July 23 announcement that confirmed the delay for these 7nm processor.

The stock registering a massive drop has led to the law firm asking investors to reach out to the team in charge of the investigation.

The law firm is also calling for whistleblowers to share any information they might have on the matter for exchange of up to 30% of any successful recovery made by the SEC.

That bad.

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Fahad Ali is a professional freelancer, specializing in technology, web design and development and enterprise applications. He is the primary contributor to this website. When he is not typing away on his keyboard, he is relaxing to some soft jazz.

All Comments

  • Ohh shee ! Isn’t it

    itsupport July 30, 2020 5:05 am Reply

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