AMD Inks $29.5M Investor Deal Over Bungled Chip Launch

Law360, New York (August 25, 2017, 10:09 PM EDT) -- Advanced Micro Devices Inc. will pay $29.5 million through its insurance companies to a class of investors who alleged that the chipmaker hid information about a new device’s demand, according to a joint notice of settlement filed in California federal court Friday.

The class of AMD investors includes anyone who acquired shares between April 4, 2011, and Oct. 18, 2012, before the company had to take a $100 million write-down on inventory of its Llano chip. The stockholders say they relied on AMD's claims that demand for the chip was strong, when in reality the company was experiencing severe supply problems...

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