INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Microchip Technology In...
September 17 2018 - 10:00PM
Business Wire
The law firm of Kirby McInerney LLP announces that it has filed
a class action lawsuit in the United States District Court for the
District of Arizona on behalf of all persons or entities who
purchased or otherwise acquired Microchip Technology Inc.
(“Microchip” or the “Company”) (NASDAQ: MCHP) securities between
May 31, 2018 and August 9, 2018 (the “Class Period”). Investors
have until November 16, 2018 to apply to the Court to be appointed
as lead plaintiff in the lawsuit.
The lawsuit alleges that on May 29, 2018, Microchip announced
the completion of its acquisition of Microsemi Corporation
(“Microsemi”) and promised investors hundreds of millions of
dollars in synergies from the combination of Microchip and
Microsemi. However, just months later, on August 9, 2018, Microchip
disclosed that the Company was “adversely impacted by $226.9
million of Microsemi purchase accounting, restructuring and other
charges.” On this news, shares of Microchip declined sharply in
value, falling $10.67 per share, or over 10% to close on August 10,
2018 at $87.41 per share.
If you purchased or otherwise acquired Microchip securities
during the Class Period, have information, or would like to learn
more about this lawsuit or about claims that you may have, please
contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by
email at investigations@kmllp.com or by filling out this contact
form, to discuss your rights or interests with respect to these
matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20180917005859/en/
Kirby McInerney LLPThomas W. Elrod, Esq.,
212-371-6600investigations@kmllp.comhttp://www.kmllp.com
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