11-23-2016, 09:46 PM
https://www.techpowerup.com/228079/amd-l...us-granted
I posted about this lawsuit on the old ABT when the news broke.
I posted about this lawsuit on the old ABT when the news broke.
Quote:The initial complaint in this action was filed January 15, 2014. After Arkansas Teacher Retirement System and KBC Asset Management NV were appointed as Lead Plaintiffs by the Court, they filed their Corrected Amended Class Action Complaint (the "Complaint") on June 11, 2014. Lead Plaintiffs allege that Defendants made materially false and misleading statements to investors about the manufacturing and subsequent launch of, as well as the demand for, its Llano microprocessor between April 4, 2011 and October 18, 2012, allegedly in violation of the Securities Exchange Act of 1934. Lead Plaintiffs further allege that the false and misleading statements inflated the price of AMD's common stock and that, when Defendants later disclosed the truth of the ongoing problems with Llano, AMD's stock price dropped. The Complaint, which contains all of the Lead Plaintiffs' allegations, is available here.
Defendants moved to dismiss the Complaint on July 7, 2014. On March 31, 2015, the Court issued an order denying Defendants' motion to dismiss.
On September 4, 2015, Lead Plaintiffs filed their motion for class certification. On March 16, 2016, the Court issued an order granting Lead Plaintiffs' motion, certifying the Class, appointing Lead Plaintiffs as "Class Representatives," and appointing Class Counsel.
The parties are currently engaged in discovery, and the deadline for completing discovery is March 3, 2017. The parties must file motions for summary judgment by April 7, 2017. No date for the trial has been scheduled.