Silicon Motion Lawsuit Loss Submission Form

The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Silicon Motion Technology Corporation (NASDAQ: SIMO) who purchased American Depositary Shares between June 6, 2023 and July 26, 2023. The action, which was filed in the United States District Court for the Southern District of California, alleges that the Company violated federal securities laws.

According to the complaint, the defendants made false statements and/or concealed that: (a) MaxLinear, Inc. (“MaxLinear”) had decided it would not consummate a business combination with Silicon Motion (the “Merger”) because the economic circumstances surrounding the Merger had materially changed, including a material downturn in the semiconductor industry and rising interest rates; (b) MaxLinear had determined to unilaterally terminate the Merger in the event the Merger was approved by China’s State Administration for Market Regulation (“SAMR”); (c) 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 (d) as a result of (a)-(c) above, defendants had materially misrepresented the viability of the Merger, the purported benefits of the Merger, and the likelihood that the Merger would be consummated.

Shareholders have until October 31, 2023 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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