Ban Ban MindBlo - This all true as well - all the lies AMD and Jerrihad Sanders told the shareholders - so the shareholders cpould buy more shares - that Jerrihad gladly SOLD TO THEM !!
SAN DIEGO, March 11 -- Milberg Weiss today announced that a class action has been commenced in the United States District Court for the Northern District of California on behalf of persons who purchased the publicly traded securities of Advanced Micro Devices, Inc. ("AMD") (NYSE: AMD) between October 6, 1998 and March 8, 1999 (the "Class Period").
If you are a member of the Class described above, you may, no later than 60 days from March 10, 1999, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please call 1-800-449-4900 or contact us via our Web site.
The complaint charges AMD and its Chairman and CEO, William Sanders, III with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants issued a series of materially false and misleading public statements about AMD's operations and prospects, including the purported success of its flagship K6 microprocessor.
In January 1999, AMD disclosed for the first time that its newest K6 chip was experiencing production and design problems, which had resulted in significant yield and production problems during late 1998. However, defendant Sanders again assured investors that AMD's problems were "behind us now" and that AMD was on track to post strong performance in the first quarter of 1999.
On March 8, 1999, AMD shocked investors, admitting that the production problems which defendants assured investors had been resolved had in fact adversely affected K6 production throughout January and February of 1999, and that AMD would suffer a "significant loss" for 1Q99. This revelation caused the price of AMD shares to drop to approximately $17 per share, almost 50% below its Class Period high.
Plaintiffs seek to recover damages on behalf of all purchasers of AMD publicly traded securities during the Class Period (the "Class"). The plaintiffs are represented by several law firms, including Milberg Weiss Bershad Hynes & Lerach LLP, who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Milberg Weiss has been actively engaged in commercial litigation, emphasizing securities and antitrust class actions, for more than 30 years. The firm has offices in New York, San Diego, San Francisco, Los Angeles and Boca Raton and is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to major positions in complex multi-district or consolidated litigations. Milberg Weiss has taken a lead role in numerous important actions on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion.
If you have any questions concerning this action or would like to join the class, please contact us. |
