The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Microchip Technology Inc. (NASDAQGS: MCHP) who purchased shares between March 2, 2018 and August 9, 2018. The action, which was filed in the United States District Court for the District of Arizona, alleges that the Company violated federal securities laws.
In particular, the Microchip lawsuit alleges that (1) Microsemi’s financial performance was underperforming Microchip’s expectations; and (2) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, including positive statements about Microsemi, were materially misleading and/or lacked a reasonable basis.
Shareholders have until November 16, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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