The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Advanced Micro Devices, Inc. (NYSE:AMD) was initiated concerning potential breaches of fiduciary duties by certain Advanced Micro Devices directors and officers.
Investors who are current long term investors in Advanced Micro Devices, Inc. (NYSE:AMD shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm for current long term investors in NYSE:AMD stocks follows a lawsuit filed recently against Advanced Micro Devices, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:AMD stocks, concerns whether certain Advanced Micro Devices officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that Advanced Micro Devices, Inc. and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that the defendants made allegedly false statements and/or concealed adverse facts regarding Advanced Micro Devices Inc’s 32 nanometer Llano (the “Llano”) Accelerated Processing Unit (“APU”), which is a type of microprocessor that combines Advanced Micro Devices Inc’s central processing unit and its graphics processing unit onto a single piece of silicon, including repeatedly highlighting the “strong” and “significant” interest in, demand for, and unit shipments of, the Llano APUs, and falsely and misleadingly representing that Advanced Micro Devices Inc’s desktop business was in a “strong position” and that it would “continue to rebound” in 2012 and that as a result of defendants’ statements, Advanced Micro Devices Inc stock traded at allegedly artificially inflated prices between October 27, 2011 and October 18, 2012. The plaintiff claims that in July 2012, Advanced Micro Devices, Inc. announced that weak demand for Llano APUs in desktop devices, particularly in its Chinese and European markets, had resulted in Advanced Micro Devices Inc’s reporting of lower than expected revenue for the June 30, 2012 quarter.
Those who purchased shares of Advanced Micro Devices, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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