NEW YORK, — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Advanced Micro Devices, Inc. (“AMD” or the “Company”) (NASDAQ:AMD) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired AMD securities between February 21, 2017 and January 11, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/amd.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) a fundamental security flaw in AMD’s processor chips renders them susceptible to hacking; and (2) as a result, AMD’s public statements were materially false and misleading at all relevant times.
On January 3, 2018, following reports that processor chips manufactured by AMD’s competitor, Intel Corporation, contained a major security flaw—known as the “Spectre” vulnerability—AMD advised investors that while its own chips were vulnerable to one variant of Spectre, there was “near zero risk” that AMD chips were vulnerable to the second Spectre variant. Then, on January 11, 2018, post-market, AMD acknowledged that its chips were, in fact, susceptible to both variants of the Spectre security flaw. On this news, AMD’s stock dropped $0.12 per share or 0.99%, to close at $12.02 on January 12, 2018.
A class action lawsuit has already been filed. You can review a copy of the Complaint at www.bgandg.com/amd or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in AMD you have until March 19, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.