Intel Defeats Investor Suit Over Reorganization Claims (2)

Intel Corp. beat an investor proposed class action alleging that the company and top executives at the time overhyped its internal revitalization plan.

Investors leading the case failed to allege financial updates or executives’ statements on savings, efficiency, and demand as the computer parts maker expanded its semiconductor manufacturing strategy were misleading, Judge Trina L. Thompson said in tossing the lawsuit Wednesday.

The US District Court for the Northern District of California had dismissed a prior complaint this year, saying then the stockholders failed to plead falsity and leaving room for them to file an amended version.

But the ...