Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) ( http://www.rgrdlaw.com/cases/amd/) today announced that a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Advanced Micro Devices, Inc. (“AMD”) (NYSE:AMD) common stock during the period between October 27, 2011 and October 18, 2012 (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at firstname.lastname@example.org. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/amd/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges AMD and certain of its officers and directors with violations of the Securities Exchange Act of 1934. AMD is a multinational semiconductor company that develops computer processors and related technologies for commercial and consumer markets.
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.