The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Advanced Micro Devices, Inc. (NYSE:AMD) shares is ongoing concerning potential breaches of fiduciary duties by certain Advanced Micro Devices officers and directors.
Investors who purchased shares of Advanced Micro Devices, Inc. (NYSE:AMD) and currently hold any of those NYSE:AMD shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Advanced Micro Devices, Inc. (NYSE:AMD officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On January 15 2014 a lawsuit was filed against Advanced Micro Devices over alleged securities laws violations. The plaintiff claimed 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 claimed 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. On October 18, 2012, Advanced Micro Devices, Inc. reported its third quarter results and announced a restructuring plan designed to reduce operating expenses and better position the company competitively.
Shares of Advanced Micro Devices, Inc. (NYSE:AMD) declined from $4.17 per share on January 10, 2014 to as low as $2.24 per share on May 6, 2015.
Those who purchased shares of Advanced Micro Devices, Inc. (NYSE:AMD), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com