Silicon Motion Technology Corporation (SIMO)
Bronstein, Gewirtz & Grossman, LLC a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Silicon Motion Technology Corporation (“Silicon Motion” or “the Company”) (NASDAQ: SIMO) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Silicon Motion securities between June 6, 2023 and July 26, 2023, inclusive (the “Class Period”). Such investors are encouraged to join this case.
The complaint alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) there had been a material downturn in the semiconductor industry and rising interest rates; (2) MaxLinear had determined to unilaterally terminate the Merger in the event the Merger was approved by Chinese regulatory authorities; (3) MaxLinear intended to argue that certain conditions in Article 6 of the Merger Agreement had not been satisfied as required by May 5, 2023 (i.e., before the Class Period) as a basis to terminate the Merger; and (4) as a result of the foregoing, defendants had materially misrepresented the viability of the Merger, the purported benefits of the Merger, and the likelihood that the Merger would be consummated; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
A class action lawsuit has already been filed. You can review a copy of the Complaint or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Silicon Motion you have until October 31, 2023, 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.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]