NEW YORK, Aug. 03, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of MaxLinear, Inc. (“MaxLinear” or the “Company”) (NASDAQ: MXL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether MaxLinear and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 24, 2024, MaxLinear issued a press release announcing its second quarter 2024 results, including net revenue for the quarter amounting to just $92 million, down 50% year-over-year. The Company attributed this decline, at least in part, to a prolonged burn-off of excess customer inventory leading to weakened demand.
On this news, MaxLinear’s stock price fell $8.27 per share, or 37.1%, to close at $14.02 per share on July 25, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
