AMD hit with class action lawsuit over Spectre and Meltdown

We all know that the Meltdown and Spectre security holes have caused headaches for Intel and AMD, but now AMD has been hit with a class action lawsuit that seeks to "recover damages for Advanced Micro investors under the federal securities laws".

Rosen Law Firm is a global investor rights firm, where a class action lawsuit has been kicked off on "behalf of purchasers of the securities of Advanced Micro Devices". The lawsuit details:

"Defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) a fundamental security flaw in Advanced Micro's processor chips renders them susceptible to hacking; and (2) as a result, Advanced Micro's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages".

It seems AMD is in deep trouble over saying: "To be clear, the security research team identified three variants targeting speculative execution. The threat and the response to the three variants differ by microprocessor company, and AMD is not susceptible to all three variants. Due to differences in AMD's architecture, we believe there is a near zero risk to AMD processors at this time. We expect the security research to be published later today and will provide further updates at that time".

I've reached out to AMD, with the company saying to TweakTown "We believe these allegations are without merit. We intend to vigorously defend against these baseless claims".