Case No. 4:14-cv-00226-YGR
The Court authorized that the Settlement Notice be sent to you because you or someone in your family may have purchased or acquired the publicly traded common stock of AMD from April 4, 2011 through October 18, 2012, inclusive.
If this description applies to you or someone in your family, you have a right to know about the proposed Settlement of this class action lawsuit, and about all of your options, before the Court decides whether to approve the Settlement. If the Court approves the Settlement, and after any objections and appeals are resolved, an administrator appointed by the Court will make the payments that the Settlement allows.
The Settlement Notice explains the lawsuit, the Settlement, Class Members’ legal rights, what benefits are available, who is eligible for them, and how to get them.Back To Top
AMD is a multinational semiconductor company. During the Class Period, a majority of AMD’s revenue was derived from the sale of computer microprocessors, chipsets, and embedded processors, while the remainder of its revenue came primarily from the sale of graphics, video, and multimedia products. Class Representatives’ claims center on the launch of AMD’s “Llano” microprocessor, an (APU) product that combined a (CPU) with a (GPU) onto one piece of silicon. As detailed in the operative complaint, Class Representatives allege that Defendants made materially false and misleading statements and omissions concerning Llano’s production, launch, demand, and sales, among other things. Class Representatives further allege that when certain disclosures pertaining to Llano’s production and supply, and the related impact on AMD’s financial results and inventories, were made, AMD’s stock price fell, allegedly damaging class members.
Details of the timeline can be found on the Settlement Notice.Back To Top
In a class action, one or more persons or entities (in this case, the Class Representatives), sue on behalf of people and entities that have similar claims. Together, these people and entities are a class, and each is a class member. Bringing a case, such as this one, as a class action allows the Court to resolve many similar claims of persons and entities that might be economically too small to bring as individual actions. One court resolves the issues for all class members at the same time, except for those who exclude themselves, or “opt-out,” from the class.Back To Top
The Court has certified the following Class, subject to certain exceptions identified below:
Check your investment records or contact your broker to see if you purchased or acquired the publicly traded common stock of AMD during the period from April 4, 2011 through October 18, 2012, inclusive.
If you only sold AMD common stock during the Class Period, your sale alone does not make you a Class Member. You are eligible to be a Class Member only if you purchased AMD common stock during the Class Period.
If you are still not sure whether you are included, you can ask for free help. You can call 1-844-855-8569 for more information. Or you can fill out and return the Claim Form, to see if you qualify.Back To Top
Yes. Some people are excluded from the Class by definition. Excluded from the Class are AMD and the Individual Defendants; members of the immediate families of the Individual Defendants; AMD’s subsidiaries and affiliates; any person who was an officer or director of AMD or any of AMD’s subsidiaries or affiliates during the Class Period; any entity in which any Defendant has a controlling interest; AMD’s employee retirement and benefit plan(s); any person or entity that validly and timely sought exclusion from the Class in connection with the Class Notice previously disseminated who does not opt back into the Class; and the legal representatives, heirs, successors and assigns of any such excluded person or entity.
Also excluded from the Class is anyone who submits a valid and timely request for exclusion from the Class, in accordance with the procedures set forth in FAQ 10.Back To Top
If you are still not sure whether you are included in the Class, you can ask for free help. You can call the Claims Administrator toll-free at (844) 855-8569, send an e-mail to the Claims Administrator at info@AMDSecuritiesLitigation.com, or write to the Claims Administrator, Hatamian v. Advanced Micro Devices, Inc., P.O. Box 4349, Portland, OR 97208-4349. Or you can fill out and return the Claim Form described in FAQ 8 to see if you qualify.Back To Top
In exchange for the Settlement and the release of the Released Claims against the Released Defendant Parties, Defendants have agreed to create a $29,500,000 cash fund, which will earn interest, to be distributed after the deduction of Court-approved fees and expenses among all Class Members who submit a valid Claim Form and are found to be entitled to a distribution from the Net Settlement Fund (“Authorized Claimants”).
If you are an Authorized Claimant entitled to a payment, your share of the Net Settlement Fund will depend on several things, including: how many Class Members timely send in valid Claim Forms; the total amount of recognized losses of other Class Members; how many shares of AMD common stock you purchased; the prices and dates of those purchases; and the prices and dates of any sales.
You can calculate your recognized loss in accordance with the formulas shown in the Plan of Allocation (set forth in the Settlement Notice). It is unlikely that you will receive a payment for all of your recognized loss. See the Plan of Allocation of Net Settlement Fund on pages 11-13 of the Settlement Notice for more information on your recognized loss.Back To Top
To qualify for a payment, you must submit a timely and valid Claim Form. A Claim Form was included with the Settlement Notice and is also available for download here. You can also ask for a Claim Form by calling the Claims Administrator toll-free at 1-844-855-8569. Completed Claim Forms can be emailed to info@AMDSecuritiesLitigation.com
Please read the instructions carefully, fill out the Claim Form, include all the documents the form requests, sign it, and mail or submit it to the Claims Administrator so that it is postmarked or electronically submitted no later than February 13, 2018.Back To Top
Unless you exclude yourself, you will stay in the Class, which means that upon the “Effective Date” you will release all “Released Claims” against the “Released Defendant Parties”. For additional information and a definition of these terms, please review the Settlement Notice.Back To Top
If you already submitted a valid and timely request for exclusion in connection with the Settlement Notice, you do not need to do so again. If you aren't sure whether you submitted a valid and timely request for exclusion, please contact the Claims Administrator.
To exclude yourself from the Class, you must mail a signed letter stating that you “request to be excluded from the Class in Hatamian v. Advanced Micro Devices, Inc., et al., No. 14-cv-00226 (N.D. Cal.).” You cannot exclude yourself by telephone, email or through this website. Your letter must state the date(s), price(s), and number(s) of shares of all purchases, acquisitions, and/or sales of AMD common stock during the period from April 4, 2011 through October 18, 2012. Your letter must also include your name, mailing address, telephone number, email address, and signature. You must submit your exclusion request so that it is postmarked no later than February 6, 2018 to:
Advanced Micro Devices, Inc. Securities Litigation
c/o Epiq Systems, Inc.
P.O. Box 4349
Portland, OR 97208-4349
Your exclusion request must comply with these requirements in order to be valid. If you ask to be excluded, you will not receive any payment from the Net Settlement Fund, and you cannot object to the Settlement.Back To Top
No. Unless you properly exclude yourself, you remain in the Class and you give up any rights to sue Defendants and the other Released Defendant Parties for any and all Released Claims. If you have a pending lawsuit, speak to your lawyer in that case immediately. You must exclude yourself from this Class to continue your own lawsuit. Remember, the exclusion deadline is February 6, 2018.Back To Top
If you previously submitted a request for exclusion from the Class in connection with the Class Notice, you may opt-back into the Class and be eligible to receive a payment from the Settlement. If you are not certain whether you previously submitted a request for exclusion, please contact the Claims Administrator at 1-844-855-8569 for assistance.
In order to opt-back into the Class, you, individually or through counsel, must submit a written “Request to Opt-Back into the Class” to the Claims Administrator, addressed as follows:
Advanced Micro Devices, Inc. Securities Litigation
c/o Epiq Systems, Inc.
P.O. Box 4349
Portland, OR 97208-4349
This request must be postmarked no later than February 6, 2018. Your Request to Opt-Back into the Class must (i) state the name, address, and telephone number of the person or entity requesting to opt-back into the Class; (ii) state that such person or entity “requests to opt-back into the Class in Hatamian v. Advanced Micro Devices, Inc., et al., No. 14-cv-00226 (N.D. Cal.)”; and (iii) be signed by the person or entity requesting to opt-back into the Class or an authorized representative.
Please Note: Opting-back into the Class does not mean that you will automatically be entitled to receive proceeds from the Settlement. If you wish to be eligible to participate in the distribution of proceeds from the Settlement, you are also required to submit the Proof of Claim form that is being distributed with this Settlement Notice (see FAQ 8.)Back To Top
The Court ordered the law firms of Labaton Sucharow LLP and Motley Rice LLC to represent all Class Members. These lawyers are called Class Counsel. You will not be separately charged for these lawyers. The Court will determine the amount of Class Counsel’s fees and expenses, which will be paid from the Settlement Fund. If you want to be represented by your own lawyer, you may hire one at your own expense.Back To Top
Class Counsel, and other attorneys who assisted Class Counsel, have not been paid for any of their work. They will ask the Court to award them, from the Settlement Fund, attorneys’ fees of no more than 30% of the Settlement Fund, which includes interest on such fees at the same rate as earned by the Settlement Fund. Class Counsel will also seek payment of litigation expenses in connection with the prosecution of this Action of no more than $3,000,000, plus interest on such expenses at the same rate as earned by the Settlement Fund, which may include reimbursements to the Class Representatives for their expenses (including lost wages), pursuant to the Private Securities Litigation Reform Act of 1995.Back To Top
If you are a Class Member, you can object to the Settlement or any of its terms, the proposed Plan of Allocation, and/or the Fee and Expense Application. You may write to the Court about your objection. You can ask the Court not to approve the Settlement, however you cannot ask the Court to order a larger settlement; the Court can only approve or deny this Settlement. If the Court denies approval, the settlement payments will not be sent out and the lawsuit will continue. If you would like the Court to consider your views, you must file a proper objection within the deadline, and according to the following procedures.
To object, you must send a signed letter stating that you “object to the proposed Settlement in Hatamian v. Advanced Micro Devices, Inc. et al., No. 14-cv-00226 (N.D. Cal.).” You must include: (i) your name, address, telephone number, e-mail address, and signature; (ii) identify the date(s), price(s), and number(s) of shares of AMD common stock purchased, acquired, and/or sold; state the reasons why you object to the Settlement and which part(s) of the Settlement you object to; and (iii) include any legal support and/or evidence, to support your objection.
Unless otherwise ordered by the Court, any Class Member who does not object in the manner described in this Settlement Notice will be deemed to have waived any objection and shall be forever foreclosed from making any future objection. Your objection must be submitted to the Court either by mailing the objection to the Clerk of the Court at the address below or by filing the objection in person at the location below, and mailed to Class Counsel and Defendants’ Counsel, so that it is postmarked on or before February 6, 2018:
|The Court||Class Counsel||Defendants’ Counsel|
|Clerk of the Court
United States District Court for the
Northern District of California
1301 Clay Street
Oakland, CA 94612
|LABATON SUCHAROW LLP
Jonathan Gardner, Esq.
New York, NY 10005
MOTLEY RICE LLC
James M. Hughes, Esq.
28 Bridgeside Blvd.
Mt. Pleasant, SC 29464
|LATHAM & WATKINS LLP
Matthew Rawlinson, Esq.
140 Scott Drive
Menlo Park, CA 94025
Patrick E. Gibbs, Esq.
3175 Hanover Street
Palo Alto, CA 94304
Objecting is telling the Court that you do not like something about the proposed Settlement, Plan of Allocation, or Fee and Expense Application. You can still recover from the Settlement, and you will still be bound by the Settlement and any Court order in this Action. You can object only if you stay in the Class.
Excluding yourself is telling the Court that you do not want to be part of the Class. If you exclude yourself, you have no basis to object because the Settlement no longer affects you.Back To Top
The Court will hold the Settlement Hearing on February 27, 2018 at 2:00 p.m., in Courtroom 1, 4th Floor of the Oakland Courthouse, 1301 Clay Street, Oakland, CA 94612.
At this hearing, the Court will consider (i) whether the Settlement is fair, reasonable, and adequate, and should be finally approved; (ii) whether the proposed Plan of Allocation is fair, reasonable, and adequate; and (iii) the application of Class Counsel for an award of attorneys’ fees and payment of litigation expenses. The Court will take into consideration any written objections filed in accordance with the instructions in FAQ 15. We do not know how long it will take the Court to make these decisions.
You should be aware that the Court may change the date and time of the Settlement Hearing without another notice being sent to Class Members. If you want to attend the hearing, you should check with Class Counsel beforehand to be sure that the date and/or time has not changed, periodically check the Court’s website at www.cand.uscourts.gov/ygr, or periodically check this website to see if the Settlement Hearing stays as calendared or is changed.Back To Top
You may ask the Court for permission to speak at the Settlement Hearing. To do so, you must submit a statement that it is your intention to appear in “Hatamian v. Advanced Micro Devices, Inc. et al., No. 14-cv-00226 (N.D. Cal.).” Persons who intend to object to the Settlement, the Plan of Allocation, or Class Counsel’s Fee and Expense Application and desire to present evidence at the Settlement Hearing must also include in their objections (prepared and submitted in accordance with the answer to FAQ 15) the identity of any witness they may wish to call to testify and any exhibits they intend to introduce into evidence at the Settlement Hearing. You may not speak at the Settlement Hearing if you excluded yourself from the Class or if you have not provided written notice of your objection and/or intention to speak at the Settlement Hearing in accordance with the procedures described in FAQ 10, FAQ 15, and FAQ 18.Back To Top
If you do nothing and you are a member of the Class, you will receive no money from this Settlement and you will be precluded from starting a lawsuit, continuing with a lawsuit, or being part of any other lawsuit against Defendants and the other Released Defendant Parties concerning the Released Claims. To share in the Net Settlement Fund, you must submit a Claim Form (see FAQ 8). To start, continue, or be a part of any other lawsuit against Defendants and the other Released Defendant Parties concerning the Released Claims in this case, you must exclude yourself from the Class (see FAQ 10).Back To Top
This website only summarizes the Settlement. The official terms of the Settlement are available in the Settlement Agreement, available here. You also can get more information by calling 1-844-855-8569, emailing info@AMDSecuritiesLitigation.com, or writing to Hatamian v. Advanced Micro Devices, Inc. P.O. Box 4349 Portland, OR 97208- 4349.
Do not contact the court or the Defendant AMD for information regarding this Settlement.Back To Top