Class action suit filed against ATI

[Steve]

In the complaint, it is alleged that "throughout the Class Period, ATI reported strong financial results in publicly disseminated press releases and in filings with the SEC. In addition, defendants repeatedly issued positive guidance, claiming that ATI's purported leadership in graphics and multimedia technologies in the consumer electronics and PC markets would "continue driving growth for ATI in fiscal 2005." As a result of these statements, the price of ATI stock became artificially inflated during the Class Period. Certain Company insiders, including defendants Kwok Yuen Ho and David E. Orton took advantage of the artificial inflation in the price of the Company's stock, and during the Class Period, each sold approximately 40% of their personally-held ATI stock for total proceeds of over $54 million."

http://www.hexus.net/content/news/ne...lld19JRD0xNjQ3

[unreal]

Ouch... Lawsuits are like a formal catfight really

This doesn't look like it's going to be ATi's year, especially with the overshadowed cards

[merlin2001]

nasty - doesn't sound like much of a claim though - every company in the world claims to be market leading and in ATI's case it's prob. at least half true... ...still, just the legal bill and effort to fight the claims will be a drain on ATI's resources....