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AMD ($AMD) shares slide over allegations against ex-CEO
Shares of Advanced Micro Devices (AMD.N) fell more than 6 percent on Wednesday following reports linking the company's former top executive to the largest U.S. insider trading scheme in history. Hector Ruiz, now chairman of AMD-affiliated spinoff Globalfoundries, a chip maker, was said to have passed on confidential information regarding the spinoff to a hedge fund manager when he was AMD's chief executive, an allegation first reported by the Wall Street Journal. AMD spokesman Michael Silverman said on Wednesday that the company is conducting an investigation into the alleged link. (reuters.com)
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2 total votes | Comments (0) | Created by steve on 2009-10-28 - Login to vote or comment!