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Case Status:    ONGOING    
On or around 11/29/2016 (Ongoing date of last review)

Filing Date: January 15, 2014

According to the law firm press release, 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.

In July 2012, AMD announced that weak demand for Llano APUs in desktop devices, particularly in its Chinese and European markets, had resulted in AMD’s reporting of lower than expected revenue for the June 30, 2012 quarter. The revelation of this information caused the price of AMD stock to decline by nearly 25% on extremely heavy trading volume. Then on October 18, 2012, the Company announced that its gross margins for the fiscal 2012 third quarter had declined more than 31% from its previous quarter, in large part due to AMD’s recording of an approximate $100 million inventory write-down, mainly attributable to the overstated value of the Llano. On this news, the price of AMD stock declined nearly another 17% on extremely heavy trading volume.

On April 4, 2014, a stipulation and order appointed the Lead Plaintiffs and approved their selection of Lead Counsel.

On May 23, 2014, the Plaintiffs filed an amended complaint against the Defendants. Then on June 11, 2014, the Plaintiffs filed a corrected amended class action complaint against the Defendants.

On March 31, 2015, the Court issued an Order denying Defendants' Motion to Dismiss.

COMPANY INFORMATION:

Sector: Technology
Industry: Semiconductors
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AMD
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 14-CV-00226
JUDGE: Hon. Phyllis J. Hamilton
DATE FILED: 01/15/2014
CLASS PERIOD START: 10/27/2011
CLASS PERIOD END: 10/18/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  2. Robbins Geller Rudman & Dowd LLP (San Francisco)
    100 Pine Street, Suite 2600, Robbins Geller Rudman & Dowd LLP (San Francisco), CA 94111
    415.288.4545 415.288.4534 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 14-CV-00226
JUDGE: Hon. Phyllis J. Hamilton
DATE FILED: 06/11/2014
CLASS PERIOD START: 04/04/2011
CLASS PERIOD END: 10/18/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
  2. Lieff, Cabraser, Heimann & Bernstein LLP
    Embarcadero Center West 275 Battery Street, Suite 3000, Lieff, Cabraser, Heimann & Bernstein LLP, CA 94111-3339
    415.956.1000 415.956.1008 ·
  3. Motley Rice LLC (Mount Pleasant)
    28 Bridgeside Boulevard, Motley Rice LLC (Mount Pleasant), SC 29464
    843.216.9000 843.216.9450 · inquiry@motleyrice.com
No Document Title Filing Date