Brower Piven, A Professional Corporation announces that a class action lawsuit 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” or the “Company”) (NYSE: AMD) securities during the period between October 27, 2011 and October 18, 2012, inclusive (the “Class Period”).
If you are a shareholder who purchased Advanced Micro Devices, Inc. securities during the class period, you may obtain additional about this lawsuit and your ability to become a lead plaintiff, at no cost to you, by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than March 17, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period adverse information concerning the Company’s 32 nanometer Llano Accelerated Processing Unit (“Llano 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 representing that AMD’s desktop business was in a “strong position” and that it would “continue to rebound” in 2012.
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