Intel won the dismissal of a shareholder lawsuit accusing the company of fraudulently concealing problems within its foundry operations. Those problems led to job losses and a dividend suspension, wiping out more than $32 billion in market value in a single day.
This writes Reuters. In a ruling made public on Tuesday, U.S. District Judge Trina Thompson in San Francisco rejected claims that Intel had waited too long to disclose a $7 billion operating loss in fiscal year 2023 related to its chips production for outside customers.
Intel did not disclose this loss until last April, when it changed the way it reported financial results. According to the court, shareholders wrongly attributed the $7 billion loss…
