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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: pgerassi who wrote (133717)	4/30/2001 1:34:51 PM
From: Paul Engel	Read Replies (1) \| Respond to of 186894

Peter Principle - re: ", just look at the times surprise losses and the successful lawsuits." Lawsuits like these ? Advanced Micro Sued for Securities Fraud on Production Glitch Bloomberg News March 10, 1999, 4:52 p.m. PT Advanced Micro Sued for Securities Fraud on Production Glitch Sunnyvale, California, March 10 (Bloomberg) -- Advanced Micro Devices Inc., Intel's biggest competitor in the computer- chip market, and its chief executive were sued in federal court by shareholders alleging that they violated securities laws by withholding information about recent production problems. Lawyers for AMD shareholders allege that AMD knew about production snafus that hurt fourth-quarter sales but neglected to tell analysts and investors about the problems until after the quarter had ended, when the news caused AMD shares to tumble. AMD, which on Monday said it would lose money in the first quarter because of the glitches, has been sued by shareholders before. Last year, it agreed to pay about $11.5 million to settle a 1995 shareholder class-action lawsuit over the delayed debut of its K5 microprocessor, a rival to Intel's Pentium. Microprocessors are the brains of a personal computer. In the new suit, lawyers for shareholders contend that Sunnyvale, California-based AMD did nothing to discourage investors from expecting strong fourth-quarter results, even though executives knew the company's plants weren't churning out enough chips to capitalize fully on strong demand. ``Unbeknownst to the investing public, AMD's much-ballyhooed road to success in the 1998 fourth quarter had hit a major pothole,'' according to the suit, which was filed in federal district court for the Northern District of California. ``We can't comment without seeing the suit,'' said AMD spokesman John Greenagel. ``It would be inappropriate to say anything until we see what the allegations are.'' Design Flaw In a conference call with analysts on Jan. 13, AMD disclosed that a design flaw had rippled through its manufacturing process, cutting output of its highest-powered processors. Just before the call, AMD reported fourth-quarter earnings that fell short of expectations because of the glitch. AMD said it earned $22.3 million, or 15 cents a share, compared with a loss of $12.3 million, or 9 cents, a year earlier. AMD was expected to earn 19 cents, the average of analysts' estimates compiled by First Call Corp. in Boston. When trading started the next day, AMD shares tumbled 19 percent. They've fallen 37 percent since the earnings report. Lawyers for AMD shareholders sued both the company and Sanders for violating securities laws. They are asking the court to make the suit a class action and are seeking damages. AMD shares fell 1/8 to 17 3/8 today. --Anthony Effinger in the San Francisco newsroom {====================================} 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. --------------------------------------------------------------------------------

To: pgerassi who wrote (133717)	4/30/2001 1:46:42 PM
From: deibutfeif	Read Replies (1) \| Respond to of 186894

prger: re...auditors have been fooled in the past... Oh, I see - the professionals are fooled, but you aren't. ~dbf (edit: PS, maybe this is a new career opportunity for you)

To: pgerassi who wrote (133717)	4/30/2001 2:40:05 PM
From: herb will	Read Replies (1) \| Respond to of 186894

pgerassi “All auditors do is validate that the numbers are correct and verifiable” Like I said send an email to the auditors. Add a footnote and tell them I said that you haven’t a clue. “They are taxed as if they are making 7 cents, and not 16 cents. The government does not care as it is to their benefit” Now I don’t have a clue what you are talking about. I guess you think it sounds good. Frankly I have never found the government so forgiving as not to care when it comes to taxes and Intel would not voluntarily pay more taxes than owed . “Perhaps Intel will have to keep the plants open and keep the antiquated equipment because they would take to large a hit when sold or junked.” ???????? This statement is absolutely incomprehensible. Can you elaborate with more hullabaloo? “BTW, auditors have been fooled in the past, just look at the times surprise losses and the successful lawsuits.” Well you said that all auditors validate that the numbers are correct and verifiable and in that case there shouldn’t be any lawsuits. But I must say however that Foolish Auditor’s Insurance rates are very high. Herb