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Article: Intel Eliminates Forward-Looking Statements and Cancels Analyst Meeting Due to California Ballot Initiative.
- Article from:
- Business Wire
- Article date:
- October 7, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 7, 1996--Intel Corporation announced elimination of forward-looking statements and cancellation of the analyst meeting planned for October 31, 1996, due to concern that a California ballot initiative, Proposition 211, will increase risk of frivolous stockholder law suits.
On November 5 the voters of California will be asked to vote on Proposition 211: "Attorney-Client Fee Arrangements, Securities Fraud, Initiative Statute." If passed, this measure could significantly increase the exposure to frivolous stockholder law suits for all companies with a California presence. This measure would render useless the federal ...