AMD_Richland_A10_6800K_0010_thumb

AMD sued over alleged fraud concerning ‘Llano’ APU

Some investors who purchased AMD’s stocks between October 27th, 2011 and October 18th, 2012 filed a class action case against AMD, claiming that AMD and its employees have violated US Securities Exchange Act, 1934.

According to the class action lawsuit, it is alleged that AMD misled its investors about how popular its 1st gen APU ‘Llano’ would get, claiming that it would sell a lot more than it actually did. But when Q2 2012 results came out, it was clear that AMD wasn’t able to meet its claims made to its investors. The plaintiffs now seek to recover damages.

AMD_Richland_A10_6800K_0010.jpg

The lawsuit was filed via Robbins Geller Rudman & Dowd and the Class-action lawsuit details can be accessed from here.

The lawsuit mentions the following:

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.

VIA: 1

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Beyond News. Beyond Reviews. Beyond Guides & Recommendations.

Join the never ending discussions on never ending topics.
Previous Article
hitman

Upcoming Hitman title brings back 'Contracts Mode'

Next Article
intel-logo

Intel Mothballs its manufacturing facility 'Fab 42'

Related Posts

Beyond News. Beyond Reviews. Beyond Guides & Recommendations.

Hardware BBQ is a PC hardware review, news and recommendations website. Typical of such PC hardware websites, I encourage two-way communication and discussions. Help us to help everybody by being a part of it. I am pretty active on Twitter. But for any detailed discussions and inquiries, you can always join the Discord group for any discussions.The future plans include streaming on Twitch, but I'll let you if and when that plan is made. Don't forget to follow the channel if you're interested.