SIMO Investors Have Opportunity to Lead Silicon Motion Technology Corporation Securities Fraud Lawsuit
LOS ANGELES, Oct. 5, 2023 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Silicon Motion Technology Corporation ("Silicon Motion" or the "Company") (NASDAQ: SIMO).
Class Period: June 6, 2023 – July 26, 2023
Lead Plaintiff Deadline: October 31, 2023
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed 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.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE The Law Offices of Frank R. Cruz, Los Angeles
![](https://rt.prnewswire.com/rt.gif?NewsItemId=LA30182&Transmission_Id=202310051330PR_NEWS_USPR_____LA30182&DateId=20231005)
Share this article