SAN FRANCISCO, April 21, 2015 /PRNewswire/ -- Schubert Jonckheer
& Kolbe LLP today launched an investigation into potential
derivative claims on behalf of shareholders of Advanced Micro
Devices, Inc. (NASDAQ: AMD), related to the company's statements
regarding its Llano microarchitecture and manufacturing yield
problems.
The investigation concerns whether the company's officers and
directors breached their fiduciary duties by making misleading
statements about AMD's Llano microarchitecture between April 4, 2011 and October
18, 2012. The Llano microarchitecture is an accelerated
processing unit ("APU"), which contains a series of 64-bit
microprocessors designed to act as a central processing unit
("CPU") and graphics accelerator ("GPU") on a single chip. AMD
management touted the Llano as an unprecedented APU that would
produce high gross margins.
Due to problems with the Llano production process, however, the
new microarchitecture missed its slated launch date in 2012, and
AMD wrote down $100 million of Llano
inventory as unsalable. The company may have also overestimated
demand for the Llano APU, making allegedly misleading statements
that there was "higher than anticipated" interest in the chips.
During this period, AMD's stock price dropped $6.17—nearly 74% of it value.
AMD's officers and directors made statements about the Llano
that may have exposed the company to significant civil liability.
The company currently faces a class action lawsuit alleging that
the company knew about the Llano yield problems and concealed these
facts from the public. On March 31,
2015, U.S. District Judge Yvonne
Gonzalez Rogers denied AMD's motion to dismiss the class
action, which may expose the company to millions of dollars in
damages, as well as investigatory and litigation costs.
If you currently own stock in Advanced Micro Devices, Inc. and
wish to obtain additional information about our investigation and
your legal rights, please contact Dustin
Schubert by email at dschubert@schubertlawfirm.com, by
telephone at 415-788-4220, or fill out the form on our website at
http://classactionlawyers.com/AMD.
About Schubert Jonckheer & Kolbe
Schubert Jonckheer & Kolbe has extensive experience in
prosecuting securities claims and has successfully represented
investors throughout the nation in shareholder lawsuits. Attorney
advertising. Prior results do not guarantee similar outcomes.
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SOURCE Schubert Jonckheer & Kolbe LLP