🔴 INTC is trading 3.2% down today as shareholder lawsuit targets $11B US government equity deal

INTC is trading at $46.45, down 3.2% from its March 11 close of $47.98, following a shareholder lawsuit seeking to void an $11 billion deal with the U.S. government.

• The legal challenge, filed in Delaware Court of Chancery, alleges that the agreement granting the government a 10% equity stake constitutes unlawful political extortion, adding uncertainty to the turnaround strategy under CEO Lip-Bu Tan.
• Broader market weakness is compounding the decline, with the S&P 500 down 0.73% and NASDAQ down 0.78% amid Middle East geopolitical tensions and significant oil price volatility.