Intel Gets Sued over 6 to 12 month 7nm Delay

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

  1. JamesSneed

    JamesSneed Master Guru

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    Course the SEC and everyone was being dense asf. If you recall he tweeted he secured funding at 420 which was a joke about him smoking weed with Joe Rogan that everyone gave him crap about.
     
  2. moo100times

    moo100times Member Guru

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    Like this?

    https://arstechnica.com/information...-before-security-bug-reveal-raises-questions/

    This related to a stock sale in 2018 which was attributed to the meltdown and spectre errors. However Intel has been working on their 10nm since 2016, so could easily have been a different issue such as this.

    Lots of people commenting that these losses are the outcomes of investing in shares, and sometimes they are, and that this is people wanting their cake and eating it too. However looking at it the opposite way, if Intel can report whatever they want with regards to their manufacturing processes (which is a huge part of their business model and essential to their remaining competitive) and expect that nothing will happen to them, that is them having their cake and eating it too - failing to deliver but immune to any kind of penalty or criticism.

    Falsely reporting information, particularly to large investment groups and banks where stable dividend paying shares often make up a significant chunk of their investigations will clearly piss a lot of people off, and rightfully so. The large investments made into Intel is based on understandings of their future roadmap, which includes the design, manufacture and sale of new products.
    You cannot spend >4 years promising something, saying it's on track, but actually continually fails to deliver (and appears was well understood internally for a while https://semiaccurate.com/2019/04/25/leaked-roadmap-shows-intels-10nm-woes/), never reported to investors until it was too late and now significant change in course which will result in them trailing the market significantly, both in releasing new products and catching up to using smaller manufacturing nodes.
     
    Last edited: Jul 31, 2020
  3. Venix

    Venix Maha Guru

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    i am not accusing elon or anyone about stock manipulation i just brought it as an example why they might be getting sued i honestly do not care i have no money on the course either way :p
     
  4. Noisiv

    Noisiv Ancient Guru

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    elon is an asshole through and through. everyone knows US has been decapitating "business unfriendly" govts since forever. what you dont do is admit this freely and air for everyone to see.

    yet this genius is completely unaware that his "We will coup whoever we want! Deal with it” tweet will reverberate through the ages, taking away little legitimacy that Empire is left with. and all this because hes insecure and wants to be edgy. beautiful
     

  5. S V S

    S V S Member

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    I just wanted to chime in here as I actually practice in this area of the law.

    This type of litigation is *common* when a large corporation's stock takes a sudden downturn. The reason for this is the large, immediate loss. The large initial loss makes the potential upside of a discovery-burdened lawsuit worth the risk. Essentially, the investors are gambling a smaller (but still very substantial) amount of money in litigation costs with the hope that they can get the case into discovery and *THEN* hopefully discover enough incriminating information to actually win the case (or have a strong enough hand for a good settlement).

    Intel didn't do anything wrong, based on the information in the public-sphere. Every poster here stating Intel defrauded their investors doesn't know anything about corporate law or securities law. In the US, anyone can sue anyone, even if they have zero case. Right now, the plaintiffs have no case. If they can get it to discovery, they hope to find some information that will give them a case. It is an expensive gamble, but with the amount of money lost, it is an expected gamble.
     
  6. Neo Cyrus

    Neo Cyrus Ancient Guru

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    If any of the insider info is true, Intel have known for an eternity now that they're going to be up to a year, if not more, behind the schedule they promised their investors nonstop. If that's not defrauding in American law, then American law doesn't know the definition of words.

    If I were a huge Intel investor I'd throw everything including the kitchen sink at suing Intel right now.
     
  7. Fender178

    Fender178 Ancient Guru

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    Also if you have no case then the defendants can counter sue against the parties who filed the lawsuit first for filing a frivolous lawsuit.
     
    K.S. likes this.
  8. Andrew LB

    Andrew LB Maha Guru

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    AMD is not a very good stock purchase right now. They're currently pushing the upper limits of their stock price and while I agree the upcoming consoles haven't had an impact yet, they'll be lucky to get a 15% bump towards years end from the consoles, followed by them dropping back down to equilibrium. I never buy stocks for quick short-term gains. Its way too risky. I buy stock for the long haul and its paid off.

    There are many other factors which would keep me from buying AMD, factors we've never really seen before such as our current political climate. Historically every time the nation had an economic downturn, everyone regardless of party worked together to bring back the economy. That is no longer the case. We now have one political party doing everything they can to tank the economy because they think thats the only way they'll win back the White House. They're so desperate that they refuse to condemn people who are setting federal buildings on fire, or rioting, looting, and destroying businesses. Or sending COVID19 infected patients into nursing homes where tens of thousands of elderly died as a result. That said, who knows what else these people are capable of
     
  9. Andrew LB

    Andrew LB Maha Guru

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    Changing a roadmap due to unforeseen obstacles does not constitute fraud.

    Reminds me of the old saying.... 'a fool and his money are soon parted'.
     
  10. K.S.

    K.S. Ancient Guru

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    They need to go back to formula while they basically work as a managed services provider with all of their current product & services lineup. Make revenue off of services & sales less so on uncertain production. Rent out their fabs etc to another OEM while they rebuild their CPU arm completely. They've been in the news too much too often lately for negative publicity & their optics are just at an all time low.
    No - @Loobyluggs is right. SEC/FTC
     
    Last edited: Aug 1, 2020

  11. K.S.

    K.S. Ancient Guru

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    What do people call this?
     
  12. moo100times

    moo100times Member Guru

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    This will be the key point. If it was known and they misrepresented their situation to investors, then it well could be fraud.
    As for share price commentary and speculation - I wouldn't doubt the possibility of a further AMD value climb. Prince increases seem to be all the rage recently in tech, and a lot of it rarely seems rational.
    2 good examples that come to mind are Nvidia and Tesla in the last few years.
     
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  13. S V S

    S V S Member

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    Unfortunately this is not true. An investor's belief that Intel may have knowingly mislead investors is more than enough to clear the bar that the litigation is frivolous.

    Fact check: It is actually extremely rare to collect attorneys fees and costs in the US legal system, outside of a handful of causes of action that the law stipulates the losing party pay such costs.

    You'll be shocked to learn this, but thousands of what *you* define as "frivolous" lawsuits are filed every single day in the US. Maybe a couple of them will end up with an order of attorneys fees and costs. The bar to *file* a lawsuit is very low and there is a very high bar to meet to justify the rare award of attorney fees and costs.
     
    Last edited: Aug 2, 2020
  14. K.S.

    K.S. Ancient Guru

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    What area of law is this? It’s not everyday I see someone claim they are a lawyer on a public forum and start providing advice. Hey it’s pretty cool. Just curious though. I want to know.

    EDIT:
    I just saw your edited post. Now I’m becoming a little hesitant. The aggressive attitude & bizarre comments towards someone. The sense of seeking validation are making me doubt you now. You didn’t need to add all of that. This is after all the Internet. Have you never been here before?
     
  15. S V S

    S V S Member

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    Read my first post, I name the pertinent areas at issue.

    I get annoyed by people pretending to know what they are talking about, and spouting off conclusory statements. It is funny how someone who likely can't even name what the actual cause of action against Intel is, still is comfortable determining that Intel defrauded their investors.

    PS - Yes, I have used the internet.

    Edit - No, I am not providing advice - I am providing commentary. I haven't advised anyone to take any type of action related to a specific legal issue. That is advice.

    This is commentary, and it is unbiased. You'll notice, I have made no judgment on the merits of this litigation. Just stating (what I would hope is obvious, but apparently not) that factually no one knows, at this point, if Intel did anything wrong.

    As someone who actually practices in this field, I am providing commentary that it is common, when such large sums of money are lost on an announcement, to litigate. Not because the investors *know* the company did something wrong, but because the cost of finding out if the company did is worth it due to the size of the immediate loss. I am telling you that no one *knows* Intel did anything wrong, including the investors who are litigating this case.

    I don't care whose opinion you value more, but again note that I have not prejudged the merits of this case. Only commented on posters who have already determined Intel did defraud the investors. Which again, is hilarious because not one of the posters knows what laws are applicable here, nor what the actual facts of the case are. The litigants don't even have all the facts, but I guess random posters on Guru3d do?
     
    Last edited: Aug 2, 2020

  16. K.S.

    K.S. Ancient Guru

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    Hmm. Ok. Fair enough. Well, not to make a pun or anything (sorry) I really think it helps your case if you don’t let it get to you the newer you are and the less people know of you. Although yes that’s simply my opinion as an observer.

    EDIT: I’ve been reading all of your posts? And I was being sarcastic...
     
  17. S V S

    S V S Member

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    I've been reading this site for a decade and have been a "member" of the forum for five years. I'm not exactly new. I'm just not inclined to post unless I have anything to contribute. I wish more people would adopt that habit so I had less useless drivel to skim through when reading this forum.
     
  18. K.S.

    K.S. Ancient Guru

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    EDIT: Forget it. I tried. I really did try but you just want to rant so have it your way bud.
     
    Last edited: Aug 2, 2020
  19. Slinkyminx

    Slinkyminx Master Guru

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    PLUCK em. May they survive only to keep AMD from plucking US.

    Intel abused their consumers from every conceivable angle for YEARS. Now they pay.

    Nvidia - YOUR TIME WILL COME. And watch me party while pissing on a cardboard cut out of Jensen when it does.

    Good business is a trusted mutual fair and honest relationship with consumers. Quality products for sensible prices DOMINATE and sell sell sell, as you can see with AMD now.

    And currently, nobody hates AMD - let's see if they can keep that up.
     
  20. nosirrahx

    nosirrahx Master Guru

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    This is what it will come down to. Does the evidence indicate that Intel willfully mislead investors for financial reasons or not?

    People really seem to be caught up in their personal feelings here. Those wont matter in court so they also do not matter here.

    I wonder if anyone here remembers the class action lawsuit against OCZ. There are similarities in that investors were mislead.
     

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