Intel Defeats Investor Appeal Over Missed Moore’s Law Benchmark

A suit by Intel Corp. shareholders over statements about the company’s progress toward achieving a smaller microchip was properly dismissed, the Ninth Circuit affirmed Friday.

The proposed class action alleged Intel fell behind in its quest to meet an industry assumption about the pace of innovation—called Moore’s Law—without telling shareholders.

Investors KBC Asset Management NV and SEB Investment Management AB didn’t say that Intel specified “intermediate checkpoints” for achieving its next chip, the appeals court said in an unsigned, unpublished opinion. So executives’ statements that the launch date timeline for Intel’s 7-nanometer chip was “unchanged” and “on track” constituted forward-looking ...