“As a result of the individual defendants’ breaches of fiduciary duty and other misconduct, Intel has sustained substantial damages and irreparable injury to its reputation”
Gelsinger and Zinsner sold the foundry as a “significant tailwind.” An April refiling showed it lost $7 billion in 2023, and the stock dropped 9.2%. Then came a record $16.6 billion quarterly loss and Gelsinger’s exit on Dec. 1. The CFO who signed off on the tailwind is now co-interim CEO.