Llano APU to blame
Some investors, which purchased stock between October 27th, 2011 and October 18th, 2012, have decided to file a class action lawsuit against AMD for misleading investors with the first generation Llano desktop APU and how "strong and significant" the interest/demand will be.
A group filed its lawsuit through Robbins Geller Rudman & Dowd law firm and focuses on false and misleading statements about AMD's business and prospects where AMD made false statements and/or concealed adverse facts regarding the 32nm Llano APU. AMD's Q2 2012 financial results showed that Llano did not do quite well as AMD expected and/or advertised, which resulted in a fire-sale of AMD stock and fall of almost 25 percent.
The law suit includes:
Quote:
The same group of investors claim and seek recover damages and it is definitely a big blow for AMD.
Source: via Techpowerup.com.
A group filed its lawsuit through Robbins Geller Rudman & Dowd law firm and focuses on false and misleading statements about AMD's business and prospects where AMD made false statements and/or concealed adverse facts regarding the 32nm Llano APU. AMD's Q2 2012 financial results showed that Llano did not do quite well as AMD expected and/or advertised, which resulted in a fire-sale of AMD stock and fall of almost 25 percent.
The law suit includes:
Quote:
The complaint alleges that during the Class Period, defendants made false and misleading statements about the Company's business and prospects. Specifically, the complaint alleges defendants made false statements and/or concealed adverse facts regarding AMD's 32 nanometer Llano (the "Llano") Accelerated Processing Unit ("APU"), which is a type of microprocessor that combines AMD'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 AMD's desktop business was in a "strong position" and that it would "continue to rebound" in 2012. As a result of defendants' false statements, AMD stock traded at artificially inflated prices throughout the Class Period.
The same group of investors claim and seek recover damages and it is definitely a big blow for AMD.
Source: via Techpowerup.com.
News by Luca Rocchi and Marc Büchel - German Translation by Paul Görnhardt - Italian Translation by Francesco Daghini
Previous article - Next article
comments powered by Disqus
comments powered by Disqus