Unhappy Intel investors award aid package to underemployed lawyers:
LITTLE ROCK, Ark., Oct. 16 /PRNewswire/ -- The Law Firm of Cauley Geller Bowman & Coates, LLP announced today that a class action has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Intel Corp. (Nasdaq: INTC - news; ``Intel'' or the ``Company'') publicly traded securities during the period between July 19, 2000 and September 29, 2000, inclusive (the ``Class Period''). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at classlawyer.com .
The complaint charges Intel and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that as a result of Intel's extraordinarily bullish statements and assurances during July, 2000 - August 2000, on August 28, 2000, Intel's stock hit its all-time high of $75-13/16. But the positive statements about the strong demand for Intel's products, Intel's improved manufacturing processes and efficiencies, the successful development and introduction of its Pentium II microprocessor, the successful development of the Pentium IV, Itanium and Timna chips and the outlook for Intel's 3rdQ 00 results, issued from July 18-19, 2000 through the Intel Developer Forum, were false.
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