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AMD Must Face Claims Surrounding Securities Fraud


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According to United States District Judge Yvonne Gonzales Rogers, AMD must now defend itself against plaintiffs who have successfully supported their claims in a lawsuit against the company. Last year, AMD was accused of inflating the company’s share price by making false statements about Llano, with officials noting that there we no problems with supply even though Llano was only shipping to specific computer manufacturers due to supply constraints. By the time supply was where it was supposed to be, demand for Llano was drastically reduced, and as such, the company wrote down that $100 million of Llano inventory was not salable. The case seeks damages on behalf of the Arkansas Teacher Retirement System, KBC Asset Management, and other investors who purchased AMD shares between April 2011 and October 2012.

Source: Reuters


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