intel -- foundry losses concealment (dismissed)
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case overview
| Court | U.S. District Court, Northern District of California |
| Filed | May-June 2024 |
| Class Period | January 25, 2024 — August 1, 2024 |
| Stock Drop | -8.2% (Apr), -26% (Aug) |
| Status | Dismissed with prejudice (July 2025) |
allegations and outcome
the complaint alleged intel concealed a $7 billion operating loss in its intel foundry services (ifs) business and that ceo gelsinger’s claims of “significant traction” were fraudulent. on august 1, 2024, intel posted a $1.61 billion quarterly loss, announced 15,000+ layoffs, and suspended its dividend, with stock crashing 26%.
judge trina thompson dismissed the lawsuit in march 2025, finding intel’s statements were not fraudulent but allowing amendment. the second dismissal in july 2025 was with prejudice, permanently ending the case. this is a notable defense victory demonstrating that not all ai/data center stock declines give rise to viable securities fraud claims.
posture check (august 2026)
this page states the july 2025 dismissal was with prejudice and permanently ended the case. there are indications plaintiffs pursued an appeal, which would contradict that. unconfirmed either way — needs a docket check before the page asserts the matter is closed.
sources
last updated: august 24, 2026 — docket posture last checked august 24, 2026