LOS ANGELES, Oct. 29, 2018 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Microchip Technology Incorporated ("Microchip" or the "Company") (NASDAQ: MCHP) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between March 2, 2018 and August 9, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before November 16, 2018.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Microchip promised hundreds of millions in savings and synergies based on its acquisition of Microsemi Corp. Despite those promises, the Company disclosed on August 9, 2018, that its due diligence of Microsemi was insufficient. Based on this news, shares of Microchip fell almost 11% on August 10, 2018. When the market learned the truth about Microchip, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
www.schallfirm.com
310-301-3335
info@schallfirm.com
SOURCE:
The Schall Law Firm