Advanced Micro Devices Beats Securities Class Action (1)

Advanced Micro Devices Inc. won dismissal of a securities class action that alleged the company concealed vulnerabilities in its computer processors from investors.

The plaintiffs, who alleged they purchased AMD’s stock at artificially-inflated prices, failed to show the company made false or misleading statements about its products, the U.S. District Court for the Northern District of California said May 23.

The decision highlights the high pleading standard investors must meet to pursue fraud claims under federal securities law. The California court has also dismissed similar claims against Intel Corp. over the same vulnerabilities, known as Spectre and Meltdown, that made ...