Internet

Short: AMD settles SEC investigation

Advanced Micro Devices (AMD) has agreed to settle an investigation initiated by the Securities and Exchange Commission concerning the company's public disclosures, according to a report in the Wall Street Journal. The SEC found that the company made "inaccurate and misleading" statements about the development of its 486 microprocessor. The agency also said the company relied on code from Intel to develop its product, while claiming it was developing the microprocessor independently. AMD consented to an order barring it from committing further SEC violations. No fines were imposed.

Advanced Micro Devices (AMD) has agreed to settle an investigation initiated by the Securities and Exchange Commission concerning the company's public disclosures, according to a report in the Wall Street Journal. The SEC found that the company made "inaccurate and misleading" statements about the development of its 486 microprocessor. The agency also said the company relied on code from Intel to develop its product, while claiming it was developing the microprocessor independently. AMD consented to an order barring it from committing further SEC violations. No fines were imposed.