Intel Gets Sued over 6 to 12 month 7nm Delay

Discussion in 'Frontpage news' started by Hilbert Hagedoorn, Jul 30, 2020.

  1. Maddness

    Maddness Maha Guru

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    I think that this is a large part of what is truly wrong with the world. Everyone believes they have an entitlement to something.
     
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  2. sykozis

    sykozis Ancient Guru

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    And things are only getting worse....
     
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  3. xodius80

    xodius80 Master Guru

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    good, intel needs to get its act together, all this consumer locking, premium features prices and the such needs to stop.
     
  4. sverek

    sverek Ancient Guru

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    Good time to sue AMD GPU division for not providing any competitive product against NoVidia.
     

  5. Fender178

    Fender178 Ancient Guru

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    Intel is a complete crap-show right now. They have so many internal problems. So I am not surprised that this is happening.
     
  6. schmidtbag

    schmidtbag Ancient Guru

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    I see why you're saying that but I don't think it's that unproductive. The reason people invest is because they hope their investments will yield a net profit. Intel has effectively lied to their investors and as a result, they aren't getting their net profit. So, they're suing to, at the very least, get back the money they put in, and to hopefully get Intel to take their situation more seriously. There must be some reason why Intel is struggling to advance their technology when Samsung and TSMC seem to have got it figured out just fine. If Intel were alone in this endeavor and AMD wasn't drawing attention away from Intel, I don't think we'd be seeing this lawsuit happen. Intel was relatively stagnant in progress for years, but only now does it matter because there's a viable alternative, and that alternative is hurting Intel's stock value.

    Actually, those are the very few things shareholders are happy about, because that means people are artificially paying more money, which the shareholders benefit from. Intel does in fact need to get their act together but the scummy business practices are unfortunately not going to go away any time soon. Oddly enough, it seems Intel is doubling-down on them.
     
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  7. K.S.

    K.S. Ancient Guru

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    Sitting here thinking after mulling over @Hilbert Hagedoorn report. I do see the investment side. The arguments stating Intel had a fiduciary responsibility as a publicly traded company to notify the share holders & did not. The company claims they did. The lawsuit mentions timing as does Hilbert’s report. Yes, that is key on Wall Street. Timing. Among a myriad of other things.

    It’s funny because just as you wrote this I posted what I did... guess great minds think alike :)
     
    Last edited: Jul 31, 2020
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  8. Fender178

    Fender178 Ancient Guru

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    You got that right Murthy Renduchintala is one such person because he felt that he was entitled to be CEO of Intel hence he sandbagged other employees on trying to become CEO.
    And now Murthy is leaving.
     
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  9. K.S.

    K.S. Ancient Guru

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    Aftermath of an internal power struggle gone wrong...
     
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  10. Fender178

    Fender178 Ancient Guru

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    Yup Bob Swan saw through his BS.
     
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  11. K.S.

    K.S. Ancient Guru

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    True. Interesting considering his are the insights of someone who didn’t want the job (at least initially). Ironic in a way, but for the best.
     
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  12. EspHack

    EspHack Ancient Guru

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    isnt it ironic how the same forces that pushed intel into this disastrous path are now complaining about it?
     
  13. K.S.

    K.S. Ancient Guru

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    I’m going to go off on a limb here but in the sense of: I want to have my cake & eat it too?
     
    Last edited: Jul 31, 2020
  14. Backstabak

    Backstabak Master Guru

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    I kinda doubt that they have a solid case here. Maybe it's just a few smaller investors who just hope to get their nuisance fee from Intel to go away. Because I don't think there is a way for them to show that Intel knew about the problems long before that and just kept the shareholders intentionally in the dark.

    To solve their problems though, Intel requires a new architecture, which is something they likely didn't work on throughout the years and it will take them a few more to deliver. They do have enough cash to survive that for sure. So maybe shares will drop, but in a few years they will recover.
     
  15. Noisiv

    Noisiv Ancient Guru

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    LOL this is for chumps
     

  16. Valkyr09

    Valkyr09 New Member

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    The investors are acting stupid. When you buy a car you buy into the promise that the car can perform. If you buy a toyota and expect to do 100km in 2 seconds, you are fooling yourself. You got to do your own research and make sure you are not caught unaware. Investors are trying to get out of this situation because they didn't do their due diligence
     
  17. Loobyluggs

    Loobyluggs Ancient Guru

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    So many sides to this...but you cannot defraud investors, look what happened a few days back https://www.sec.gov/news/press-release/2020-145

    Now, the question is this: is misleading investors the same as defrauding them? I think the answer is a very simple one, from my comfortable armchair: Cui bono?

    As Intel executives are monetarily rewarded by share price, this will have to go to the SEC for thems' to chimes' ins' and find out just what led intel to pass information to investors of this colossal screw up.

    So, to whom did this benefit? (the passing of the information to shareholders)

    This could be very serious case that runs for years, or it could all be over with a fine and a slap on the wrists....but heads have already rolled, so...maybe not? Hard to know how Intel will play this, but the game is perhaps not as rigged as they would have thought it was?

    I cannot imagine working at Intel, but I think it would be such a a great and fantastic place to work, with all that tech at your fingertips...whoah, that would be cool - but can it impact ones perception of what the purpose of the company is and the temptation to 'fudge' projections? Again, hard to know...so, to whom did this benefit?

    But...where is line? Where is it written that your projections are cast-iron-clad guarantees; and not simple 'ambitious, finger-crossed ideas' about the future?

    Fraud? Possibly.
    Questionable business projections? Yes. Without a doubt.
    Fine? Up to the SEC, if asked.
    Possible to topple/bury Intel? No chance. They are literally 'to big to fail'...110,000 employees...

    Intel have survived 9 stock market crashes people...they are not going anywhere, but changes are coming for sure, at the speed of the electron, and AMD has its foot firmly, deftly, buried on the accelerator.
     
  18. JamesSneed

    JamesSneed Master Guru

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    They could be if Intel knew about this delay and sat on it. Especially if Intel new the prior quarter and did not report it on their quarterly earnings. If it was a new development then I agree these folks will lose the case nothing to see here move along. I highly suspect Intel knew long before this news came out. There were to many rumblings of rumors about 7nm being delayed well before this news.
     
  19. H83

    H83 Ancient Guru

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    I´m entitled to a nice Porsche, a very big house, lots of money and some super hot babes! But nothing so far, don´t know what´s going wrong...
     
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  20. Venix

    Venix Maha Guru

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    remember when elon got in trouble ? he tweeted that he secured funding and people flocked to buy stock , meanwhile musk did not had any funding secured at all so the case against him was that he lied to manipulate the stock price in such case he could have sold a lot of his shares when riding high and buy back when it crash things like that where happening way to often in the past before regulations thats why regulations got into place ... a company has obligation to be transparent if they knew before hand that the 7nm is not on track and they kept saying it is on track then this can be seen as stock manipulation ... point is if the firm that is behind the sue can prove that.
     

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