Lawsuit for Investors in Microchip Technology Incorporated (NASDAQ: MCHP) Shares Announced by Shareholders Foundation
SAN DIEGO, CA, September 25, 2018 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in shares of Microchip Technology Incorporated (NASDAQ: MCHP).
Investors, who purchased shares of Microchip Technology Incorporated (NASDAQ: MCHP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On March 1, 2018, Microchip announced that it would acquire Microsemi Corporation ("Microsemi") for $8.35 billion.
On August 9, 2018, Microchip Technology Incorporated disclosed that the Company was "adversely impacted by $226.9 million of Microsemi purchase accounting, restructuring and other charges," and that Microsemi "was extremely aggressive in shipping inventory into the distribution channel" which "will provide some headwind for revenue for the next couple of quarters" for Microchip Technology Incorporated.
On September 18, 2018, a lawsuit was filed against Microchip Technology Incorporated over alleged securities laws violations. More specifically, the plaintiff claims that Microchip Technology Incorporated represented that the Microsemi acquisition would be "immediately accretive" by increasing Microchip's earnings per share as it "will add further operational and customer scale to Microchip," and that Microchip's CEO Steven Sanghi represented that the "deal is accretive on day one without doing anything, without any synergy," and was "strategically and financially, a very compelling transaction."
Those who purchased Microchip Technology Incorporated (NASDAQ: MCHP) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: The Shareholders Foundation, Inc.
Source: Shareholders Foundation, Inc.
