The U.S. District Court for the Northern District of California has certified as a class action a lawsuit filed on behalf of investors who purchased or otherwise acquired shares of Advanced Micro Devices, Inc. during the class period of April 4, 2011 to Oct. 18, 2012.
Lead plaintiffs Arkansas Teacher Retirement System and KBC Asset Management NV Plaintiffs are represented by securities attorney James M. Hughes of Motley Rice, and co-counsel Labaton Sucharow LLC. The civil suit, filed Jan. 15, 2014, alleges that Advanced Micro Devices and select executives misled investors about the manufacturing, launch, and demand of its Llano microprocessor, thereby inflating the price of the company’s common stock. When problems with the product’s availability and demand were later revealed, plaintiffs allege, the stock’s price plummeted, damaging shareholders. Defendants in the case have denied the allegations.
Affected shareholders have until Jan. 19, 2017 to request exclusion from the suit. If included, eligible shareholders maintain the possibility of sharing in any potential recovery. A date for the trial has not yet been set.
For more information, read the public notice of this class action suit. The case is Babak Hatamian et al. v. Advanced Micro Devices, Inc. et al., Case No. 4:14-cv-00226-YGR.
If you purchased common stock of Advanced Micro Devices during the class period of April 4, 2011 to Oct. 18, 2012, you may contact Motley Rice securities attorney James M. Hughes at 1-800-768-4026 or via email.