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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: The Duke of URL© who wrote (170596)	9/5/2002 8:44:43 AM
From: Dan3	Respond to of 186894

Re: no class action lawsuit regarding a Bapco test The class action lawsuit was filed prior to the news of Intel's secret manipulation of performance test results. It was filed based upon the experiences of buyers who replaced their PIII systems with P4 systems and found the P4 systems to be no faster than their older PIII systems, despite the P4 being clocked 50% to 100% higher. AN SEC FILING made by the Intel Corporation confirms that it faces a nationwide class action over the performance of the Pentium 4 processor. As we noted on Saturday, plaintiffs believe that Pentium 4s are slower than Pentium III chips, but the current state of play seems to be that the extent of the class action, filed in California, should be extended to the whole US. The parties are arguing about that. This is what Intel had to say: "In June 2002, various plaintiffs filed a lawsuit in the Third Judicial Circuit Court, Madison County, Illinois against Intel, Hewlett-Packard Co., HPDirect, Inc. and Gateway Inc., alleging that defendants' advertisements and statements misled the public by suppressing and concealing the alleged material fact that systems that use the Intel Pentium 4 processor are less powerful and slower than systems using the Intel Pentium III processor and competitors' processors. theinquirer.net It's been interesting that attorney's have been keeping the case pretty low profile, they could be trying for a settlement, and part of the deal being offered is limited publicity. Their case became much stronger after the BAPCO revelations. Previously, Intel was able to claim that the misrepresentations were being made by resellars, and were not malicious on the part of Intel. Since the BAPCO news, the attorneys have had proof that Intel was intentionally, and secretly, misrepresenting P4's performance. Lawsuits against deep pocketed defendants are tough, and take a long time. I wouldn't expect any near term effects from this case (look how long it took to nail the tobacco companies).