Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $29.5 Million Settlement in the Advanced Micro Devices Inc (NYSE: AMD) Investor Lawsuit

Via: ReleaseWire

Updated 12:00 PM CST, Thu, February 08,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Advanced Micro Devices Inc (NYSE: AMD) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on February 13, 2018 and NYSE: AMD investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 02/08/2018 -- A deadline is coming up on February 13, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Advanced Micro Devices Inc (NYSE: AMD) between April 4, 2011 and October 18, 2012.

Investors who purchased a significant amount of shares of Advanced Micro Devices Inc (NYSE: AMD) between April 4, 2011 and October 18, 2012, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Advanced Micro Devices Inc (NYSE: AMD) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/advanced-micro-devices-inc-nyse-amd-investor-securities-class-action-lawsuit-01152014

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is February 13, 2018. The class action administrator for this case is Epiq Systems Inc. The lawsuit was originally filed in the U.S. District Court for the Northern District of California against Advanced Micro Devices Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between October 27, 2011 and October 18, 2012.

According to the complaint the plaintiff alleges on behalf of a all persons or entities who purchased or otherwise acquired securities of Advanced Micro Devices Inc (NYSE: AMD) between October 27, 2011 and October 18, 2012, 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.

Then 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.

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

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-295-million-settlement-in-the-advanced-micro-devices-inc-nyse-amd-investor-lawsuit-928891.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com