CHIPMAKER AMD has been slapped with a class-action lawsuit over claims that it artificially inflated its stock price by keeping quiet about the fact that the high-profile Spectre flaws affect its chips.
A filing to a US court in the northern district of California made by Pomerantz LLP on behalf of shareholder Doyun Kim claims that AMD's initial reaction to the flaw, which saw it declare that Spectre posed "near zero risk" to its chips before admitting that its processors were, in fact, affected by both variants of the vulnerability, resulted in AMD's stock prices plummeting
"As a result of defendants' wrongful acts and omissions, and the precipitous decline in the market value of the company's common shares, plaintiff and other class members have suffered significant losses and damages," the filing states.
These are strong accusation for flaws which only recently came to light and the scope of their reach and potential to cause damage is arguably still being figured out.
But AMD is not alone in facing court filings. Intel is in the same boat, and has already been whacked by multiple class-action lawsuits over both Meltdown and Spectre.
Given that both CPU flaws have effectively sat dormant for years, throwing court cases at Intel and AMD may seem a little unfair.
That being said, Google's Project Zero team, which was instrumental in uncovering the CPU flaws, had apparently informed AMD about Spectre back in June 2017, so one could argue that the firm should have been more forthcoming about the issue.
The filing made against AMD demands a jury trial, which means that if it goes forward, the chipmaker will be given a thorough grilling over Spectre could see its share prices fall again.
It's a bit sad really given AMD was finding new success in the chip market with its Ryzen processors which can really give some of Intel's CPUs a run for their money. µ
Bad for shareholders, mildly good for the planet
YouTube on the Tube
Claims that it hasn't ever actually worked