NEW ORLEANS, Jan. 16, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 17, 2014 to file lead plaintiff applications in a securities class action lawsuit against Advanced Micro Devices, Inc. (NYSE:AMD), if they purchased the Company's securities during the period between October 27, 2011 and October 18, 2012, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Advanced Micro and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 17, 2014.
About the Lawsuit
Advanced Micro and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
In July 2012, Advanced Micro announced lower than expected revenue for the 2012 second quarter due to weak demand for its Llano APUs. On this news, the price of Advanced Micro's stock fell by nearly 25%.
Then, on October 18, 2012, the Company announced that its gross margins for the 2012 third quarter had declined more than 31% from its previous quarter, primarily due to the overstated value of its Llano APUs and an approximate $100 million inventory write-down, causing the price of its stock to plummet again by almost 17%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.