Intel beats shareholder lawsuit over $32 billion stock plunge

A federal judge dismissed a lawsuit accusing Intel of defrauding shareholders by concealing problems in a business where it manufactured chips for outside customers, leading to a $32 billion one-day plunge in its market value.

While saying she “understands plaintiffs’ frustrations,” U.S. District Judge Trina Thompson in San Francisco ruled on Wednesday that Intel did not wait too long to reveal a $7 billion fiscal 2023 operating loss in its foundry business.