Former AMD Chief Tied to Insider Trading Case
The Wall Street Journal reported that Ruiz is the unnamed Advanced Micro Devices executive who shared confidential information about his company with a trader, according to documents related to a criminal case filed by the Manhattan U.S. Attorney's office earlier this month.
The accusation links Ruiz to the Galleon Group hedge fund, whose co-founder and five others face criminal and civil charges related to insider trading. Ruiz is said to have passed on confidential information about the AMD-affiliated spinoff, Globalfoundries, where he now serves as chairman.
Drew Prairie, an AMD spokesman, told the Journal, "We are thoroughly reviewing the situation, but at this time we don't have any more detail to discuss publicly. We are not aware of any allegation of criminal misconduct on the part of any current or former AMD employees, nor have any current or former AMD employees been charged with a crime."
Shared of AMD fell more than 6 percent on Wednesday following the news.
