Harwood Feffer LLP Announces Investigation of Advanced Micro Devices, Inc.
NEW YORK, Jan. 31, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Advanced Micro Devices, Inc. ("AMD" or the "Company") (NYSE: AMD), concerning whether the board has breached its fiduciary duties to shareholders.
During the end of 2011 and beginning of 2012, the Company's public disclosures repeatedly stated that its business was in a strong position and would "continue to rebound." Then, in 2012, the Company reported lower than expected revenue due to weak demand for its products in desktop computers. Weeks later, the Company disclosed that its gross margins for the fiscal 2012 third quarter declined more than 30% from the previous quarter and that it had recorded a $100 million inventory write-down due to the overstatement of value of certain products.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own AMD shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Matthew M. Houston, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP