Brian - AMD Just Lost another $11,500,000 in a Class Action Suit Settlement.
Note the Creative Accounting! They are going to re-jigger Q1's LOSSES ex-post-facto to $62,000,000 so that Q2 doesn't look so bad!
No wonder their CFO quit!
Paul
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biz.yahoo.com
Thursday April 23, 10:57 am Eastern Time
AMD reaches securities suit settlement
SUNNYVALE, Calif, April 23 (Reuters) - Advanced Micro Devices said Thursday it agreed in principle to settle a class action securities lawsuit against it and some current and former officers and directors.
The agreement is subject to board approval and confirmation by the United States District Court in San Jose, California.
The suit, filed in November 1995, related to its AMD-K5 microprocessor development project.
If approved, the cost of settlement would be $11,500,000. AMD is adjusting its first quarter results to reflect the settlement, which net of tax, increases the quarterly loss by $0.05 per share to $62,727,000.
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