Shareholder Alert: Levi & Korsinsky, LLP Notifies Shareholders of MagnaChip Semiconductor Corporation of Pendency of Class Action Lawsuit and a Lead Plaintiff Deadline of June 22, 2015 -- MX
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 04/29/15 -- The following statement is being issued by Levi & Korsinsky, LLP:
or otherwise acquired securities of (NYSE: MX)
that a securities class action lawsuit has been commenced in the USDC for the Northern District of California. If you purchased or otherwise acquired ("MagnaChip") securities between February 1, 2012 and February 12, 2015, . To get more information :
or contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
The complaint alleges that MagnaChip failed to disclose that it improperly recognized revenues, resulting in the overstatement of revenues and earnings in financial statements from 2011, 2012, and the first nine months of 2013. As a result of the aforementioned, MagnaChip traded at artificially inflated prices, allowing controlling shareholder Avenue Capital Management II, L.P. to sell more than 16.1 million shares in secondary stock offerings for $232.675 million in gross proceeds.
On February 12, 2015, the Company filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2013, restating its financial results for fiscal years 2011, 2012, and the first three quarters of 2013. On April 1, 2015, the Company received notice from NYSE that it is no longer compliant with listing requirements.
to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn''t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm''s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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Datum: 29.04.2015 - 14:07 Uhr
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