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CHIPS & TECHNOLOGY SAYS LAW SUIT IS WITHOUT MERIT

Chips & Technologies Inc, the company Intel Corp is spending $420m acquiring (CI No 3,213), says a law suit filed against it, styled as a class action by a shareholder of the company’s New York Apple Sales Inc profit Sharing Plan, is without merit and that it intends to vigorously defend it. The lawsuit challenges the company’s actions in relation to Intel’s pending cash offer for Chips & Technologies stocks.

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CBR Staff Writer

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